Gotion High-tech Plans to Achieve Carbon Neutrality by 2040

2024-04-23 09:54:10 Gotion Viewd 100

On the evening of 19 April, Gotion High-tech released its 2023 annual report and ESG report, the company's 2023 revenue exceeded RMB 30 billion, and its net profit increased by 390.92% year-on-year. Along with the growth in performance, Gotion High-tech is committed to green transformation and disclosed the company's 2040 carbon neutral target for the first time.

Gotion High-tech has clearly proposed a strategic plan to achieve carbon neutrality by 2040 in its ESG report. Through gradual increase in the number and proportion of zero-carbon factories, as well as the proportion of green logistics transportation, Gotion aims to reduce its own operational carbon emissions and carbon reduction in the supply chain has been actively promoted as well. Simultaneously, Gotion High-tech actively increased the usage of renewable energy sources. Photovoltaic (PV) power stations generated 49.65 million KWh of electricity, up 26.69% from 2022. In 2023, the company invested in a PV power generation project on nearly 40 km²of land in Wuhai, Inner Mongolia, to build the world's first zero-carbon cathode material base.

From 2021 to 2023, Gotion High-tech experienced an annual increase in total energy consumption with the rise in production capacity. However, the unit energy consumption consistently decreased over the same period,marking a remarkable success in carbon reduction. In 2023, the company's energy consumption per unit of product was 35.2 (kWh/kWh.cell), a decrease of 10.9 % year-on-year.The GHG emission per unit product was 85,060 gCO2e/KWh, a decrease of 6,940 gCO2e/KWh compared with the previous year. Gotion High-tech’s 11 major subsidiaries initiated 152 energy conservation and carbon reduction projects, saving 95.62 million kWh of energy consumption.

Additionally, Gotion High-tech applied digital technology in its energy management practices to improve the efficiency of energy use, with the energy management systems of its six subsidiaries put into operation. Gotion High-tech plans to complete the replication and promotion of new production lines in 2024.

Besides,the company is actively laying out the battery recycling industry. Gotion High-tech can deal with 50,000 tons of waste batteries and 10,000 tons of scrap pole pieces annually. The comprehensive recycling rate of the whole battery components is over 92%, which is leading the industry. Gotion contributes to the realization of carbon neutrality through the recycling of battery materials.