Global law firm Clifford Chance has advised Volkswagen Group on the deepening of its strategic partnership between PowerCo Group and Gotion High-tech. Building on their cooperation since 2020, the companies have agreed to expand their long-standing partnership to include the industrial production of LFP battery cells and cathode active materials, and to accelerate the development of a regional battery supply chain for Europe. The agreement remains subject to regulatory approvals and customary closing conditions, including approval by the Gotion shareholders’ meeting.
At the core of the transaction is the establishment of three joint ventures at the Valencia, Spain, Šurany, Slovak Republic, and Kenitra, Morocco sites.
The international Clifford Chance team was led by partner Jörg Rhiel and included senior associate Felix Groppenbächer, of counsel Frank Scholderer (all Corporate/M&A, Frankfurt), partner Thomas Voland and senior associate Laura-Isabell Dietz (both Corporate/Regulatory, Düsseldorf), partner Holger Lutz, counsel Michael Kümmel and associate Stephanie Giek (all Commercial Contracts, Frankfurt), partners Dominik Engl and tax consultant Leonie Gebauer (both Tax, Frankfurt and Munich), partner Bettina Steinhauer and partner (Germany) Christoph Nensa (both Debt Finance, Frankfurt), partner Nicolas Cookson (Project Development, Finance, Düsseldorf), counsel Amrei Fuder (Real Estate, Frankfurt), partner Claudia Milbradt, counsel Nicolas Hohn-Hein, associate Yannick Dabie (all IP, Düsseldorf).
Furthermore, the firm’s global team comprised partner Guillermo Guardia (Corporate, Barcelona), partner Pablo Serrano de Haro and counsel Fernando Escribano (both Tax, Madrid), partner Frédéric Giancarli, associate Aolaia Snaiba (both Corporate, Casablanca); partner Michal Jasek (Corporate/M&A), senior associate Simona Rapavá (Finance) and junior lawyer David Herich (all Prague); partner Edward Bretherton, senior associate Tom Pemberton (both Real Estate, London), partner Valerie Kong, senior associate Lewin Lim (both Corporate, Singapore) as well as partners Kelly Gregory (Corporate), Julia Peng (Disputes, both Shanghai) and counsel Fang Bao (Corporate, Beijing).
Inhouse advice at Volkswagen Group was provided by Tim Jonas Haack and Sina Becker.
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