The increased stake was achieved through the issuance of around 4.9 million new shares at EUR 0.8209 per share, the same price as Ebusco's November 2024 rights issue. The proceeds from this share issuance were used to settle outstanding accounts payable that Ebusco owed to Gotion.

This leadership change reflects growing collaboration between the companies, which have worked together since 2018. Gotion’s advanced battery technology and strong presence in Asia are expected to support Ebusco’s innovation, expand its market reach and enhance financial stability.

Ebusco has convened an Extraordinary General Meeting (EGM) on 26 March 2025 to seek shareholder approval for further share issuance to Gotion, allowing Gotion to convert an additional EUR 4.01 million of its remaining accounts payable into equity. If approved, this would increase Gotion's stake in Ebusco to just over 10%.

The battery manufacturer Gotion has acquired 9.3% of Ebusco for a price of EUR 5 million. Within this agreement, it stipulates that Gotion can nominate a representative to Ebusco’s supervisory board and management board, subject to the approval of the Company’s shareholders.

GIB EnergyX will license Gotion's LFP technology for lithium-ion cells to Amara Raja for manufacturing LFP cells in both cylindrical and prismatic form factors.

With the help of the Serbian government* in securing the land and the necessary licenses to build, the site will be responsible for the manufacturing and recycling of battery cells for EVs.

With construction set for next year on a 65-hectare area of land in Šurany, the Slovak government is set to provide subsidies. The venture aims to begin battery production in Q2 2026, producing EV batteries with a combined annual output of 20 gigawatt-hours.

The significance of this investment for InoBat is that this will provide access to Gotion's research and development, its raw materials (lithium etc.) supply chain, cell production and recycling capabilities which will accelerate InoBat’s path to series and large-scale production of battery cells.

The joint venture (JV) outlines several key goals with the primary being the co-development of a 40 GWh capacity gigafactory in the CEE (Central and Eastern Europe) region.