Gotion rises 10% to 2-month high on €1.1 billion Volkswagen battery plant investment
The stock hit 28.68 yuan, its highest since July 31, and was on course for its biggest one-day gain since April 10. Volkswagen said Gotion will invest in its Valencia battery plant and take a 49% stake in PowerCo's business there.
68 yuan, their highest level since July 31. The stock was on course for its biggest one-day percentage gain since April 10 after three straight sessions of decline. 25 billion) in Volkswagen's battery plant in Valencia as part of a broader plan to jointly develop a European battery supply chain. Gotion's investment gives it a 49% stake in the Valencia plant of Volkswagen's battery business PowerCo, while Volkswagen will remain the majority shareholder, the company said.
2% decline in the benchmark CSI300 Index. 8802 euros)