Volkswagen-backed battery maker Gotion High-Tech plans Swiss listing

Gotion High-Tech revealed plans on Wednesday to list on the SIX Swiss Exchange, as the Chinese battery supplier aims to meet the rising global demand for electric vehicles, according to a statement to the company’s primary market, the Shenzhen stock exchange. The company also described the move as a response to Beijing’s capital market policy, as China broadened a stock connect scheme to allow Shenzhen-listed companies to tap into German and Swiss capital markets in December 2021. Volkswagen-backed Gotion had a 5.5% market share in the Chinese EV battery market during the first two months of this year, following CATL, BYD, and CALB, according to official figures. [Gotion High-Tech release, in Chinese]