On August 29, Gotion High-Tech announced that the company plans to invest in the construction of a new lithium-ion battery (20GWh) smart manufacturing base project in the Liuhe Economic Development Zone of Nanjing City. The total investment for the project will not exceed Yuan 4 billion. Jiangsu Gotion New Energy, a controlled subsidiary of the company, will be the entity responsible for implementing the project.
This investment will increase the company's capital expenditures and cash outlays, but it is expected to have a positive impact on the company's business layout and operating performance in the long term.
Edited by Cassie Li, lixiangying@mysteel.com
