(Yicai Global) June 29 -- Chinese electric vehicle battery giant Gotion High-Tech said it plans to have one-third of its production capacity overseas by 2025.

Gotion High-Tech aims to reach a global production capacity of 300 gigawatt-hours by that year, with 100 GWh of the targeted output located abroad, said Li Chen, president of the firm’s international business, according to a statement the Hefei-based company released yesterday.

Gotion had previously set out the goal of reaching 300 GWh by 2025. It produced 16 GWh last year, making it China's third-biggest new energy battery maker after Contemporary Amperex Technology and BYD, with an 11.2 percent market share.

Li made the announcement as Gotion, whose largest single investor is German carmaker Volkswagen Group, unveiled plans on July 27 to build its first European battery production and operations base in Germany. The base will be located at the company’s existing plant in the city of Göttingen and will have an annual production capacity target of 18 GWh.

Gotion bought the Göttingen plant from German engineering giant Robert Bosch Group last year. It covers an area of about 174,000 square meters and has an existing gross floor space of about 40,000 sqm.

At Göttingen, Gotion will research and develop new energy batteries that cater to the European market, and make batteries for buses and cars as well as energy storage and mobile digital products for future clients in the energy storage and commercial and passenger vehicle sectors, said Ahmet Toptas, the plant’s director.

The base will be built in two phases, with an annual capacity of 6 GWh and 12 GWh, respectively. The construction of the first phase will kick off at the end of the year, and the first 3.5-GWh production line will likely start in September 2023.

At the opening ceremony for the Göttingen base, Gotion also unveiled GenDome, the firm’s first portable energy storage brand for overseas markets, as well as Gendock 3000, its first portable mobile energy storage device that can convert solar and wind energy into electricity.

Gendock 3000, which will meet 99 percent of power demand in household and outdoor scenarios, will be produced at Göttingen and sold mainly in Europe.

Shares of Gotion High-Tech [SHE: 002074] fell 4.5 percent today to close at CNY44.80 (USD6.69) each. The broader Shenzhen market lost 2.2 percent.

Editor: Futura Costaglione