# Volkswagen sells 49% stake in Sagunto gigafactory 28 September 2026 at 18:07 > Volkswagen partners with Gotion High-Tech in a 3.22 billion euro venture to build a lithium battery plant in Valencia, creating 1,500 jobs. [Volkswagen]() has agreed to sell a 49% stake in its [Sagunto]() battery gigafactory to [Gotion High-Tech](), with **PowerCo** retaining a 51% controlling interest. The deal, disclosed to the [Shenzhen Stock Exchange](), forms part of a 3.22 billion euro international venture. The Valencia project involves a 2.26 billion euro investment to build a 29.1 GWh lithium battery plant, creating over 1,500 direct jobs. Gotion will enter via a capital increase, also signing engineering contracts worth 1.09 billion euros for construction. This strategic partnership extends beyond Spain to include an 8.4 GWh plant in Slovakia and a cathode factory in Morocco. By integrating Gotion's expertise, Volkswagen aims to bolster its global supply chain for electric vehicle battery production capacity. [#Volkswagen]() #GotionHighTech #ElectricVehicles #Gigafactory [#Valencia]() ## Related news ## [Red alerts issued as severe storms hit Spain]() 2 October 2026 at 15:16 ## [Five arrested for racist assault in Valencia]() 2 October 2026 at 08:06 ## [Renfe cancels Euromed trains amid red alerts]() 1 October 2026 at 18:29 ## [Renault to invest €600m in Spanish EV production]() 25 September 2026 at 08:15 ## [Severe rainstorm causes flooding across Valencia]() 17 September 2026 at 08:56