InoBat
Assembly Line
InoBat snaps €100M to supercharge European EV battery industry
Slovakia-based battery maker InoBat has raised €100 million in equity funding. The investment came from strategic investors Amara Raja and Rio Tinto, with significant contributions from SIH (Slovakia’s sovereign wealth fund), Lilium, Bromo Capital, IPM Group, and Cielo Capital. Gotion, the Chinese battery cell maker, backed by the Volkswagen Group, also cements its partnership with InoBat by becoming a cornerstone investor in the round.
Over the next year, InoBat aims to ramp up production of European-designed battery cells, start an energy storage business in partnership with Gotion, and launch another investment round to support the scaling of its operations in Slovakia, Serbia, and Spain and accelerating growth in new regions.
Volta 1, InoBat’s R&D and low-volume, high-performance battery manufacturing facility in Volderady became fully operational with 150 people from 19 nationalities combining to make Europe’s only high silicon anode cell. The advancement of the GIB (Gotion InoBat Batteries) gigafactory in Šurany, Slovakia. This state-of-the-art facility is set to address Europe’s rising demand for safe, sustainable batteries.