The story
Gotion was founded as Hefei Guoxuan Hi-Tech Power Energy (later anglicized to Gotion) in 2006 in Hefei by Zhen Li. The company struggled financially for several years before the Chinese government began heavily subsidizing the country's lithium-ion battery industry in 2009. In 2015, it listed on the Shenzhen Stock Exchange via a reverse takeover of Jiangsu Dongyuan Electrical Group Co. In 2022, it also listed in Switzerland on SIX Swiss Exchange, raising US$685 million.
Overseas expansion
Gotion has actively pursued expansion abroad. It currently operates factories in Göttingen, Germany; and Fremont, California. It has also announced factories in Big Rapids, Michigan; Manteno, Illinois; Kenitra, Morocco; and Valladolid, Spain. It has also purchased a 25% stake in InoBat Batteries, a Slovakian battery manufacturer. In 2023, plans to build a plant in Green Charter Township, Michigan, garnered local opposition due to the company's ties to the Chinese Communist Party, leading to a halt of the project and subsequent lawsuits.
From Wikipedia’s article on Gotion, shared under CC BY-SA 4.0.4