| Compare | Payout | Min deposit | Promo code | Win rate(%) | Welcome bonus | Rating | |
|---|---|---|---|---|---|---|---|
|
New  |
1 min. | 20 $ | LINKER | 60 % | 500 + FS | PLAY NOW | |
 |
60 min. | 20 $ | RUBYSKYE | 60 % | 500 + FS | PLAY NOW | |
 |
2 hr. | 20 $ | RUBYSKYE | 60 % | 500 + FS | PLAY NOW | |
|
Promo  |
60 min. | 40 $ | RUBYSKYE | 60 % | 500$ +150 FS | PLAY NOW | |
|
Promo  |
60 min. | 40 $ | RUBYSKYE | 60 % | 500$ +150 FS | PLAY NOW | |
 |
60 min. | 20 $ | RUBYSKYE | 60 % | 500 + FS | PLAY NOW |
By Nick Carey
VODERADY, Slovakia (Reuters) – Northvolt’s financial collapse has not entirely crushed Europe’s dream of developing its own electric vehicle batteries but fulfilling it is likely to require Chinese cash and expertise.
InoBat CEO Marian Bocek’s Slovakian start-up had to work hard to secure funding until China’s fifth-largest battery maker Gotion bought a 25% stake last year and formed a joint venture with InoBat to build European gigafactories.
On Friday, InoBat announced 100 million euros ($104 million) in Series C funding, taking its total raised to well over 400 million euros.
Coming just weeks after Northvolt’s downfall, the investment shows European EV battery projects can still raise money.
But instead of an independent European industry, the norm in future may be joint ventures that likewise rely on China’s low-margin EV battery dominance, according to interviews with a dozen executives, investors and analysts.
They cited the Gotion-InoBat Batteries (GIB) tie-up and a deal announced last week between Stellantis and CATL.
Battery startups are “just not the flavour of the month,” said Lacie Midgely, a research analyst at UK investment bank Panmure Liberum. “Institutional investors are looking for strategic investors before they’ll get on board.”
In 2023, Hefei-based Gotion had around 150 gigawatt hours (GWh) of nominal battery capacity, enough to produce batteries for between 1.5 million and 2 million cars.
Morningstar analyst Vincent Sun forecasts it should hit 270 GWh in 2025 – dwarfing Europe’s current capacity.
“It made a big difference that InoBat has a partner like Gotion on board,” said Vikram Gourineni, executive director at Indian battery maker Amara Raja, a lead investor in InoBat’s Series C round. Amara Raja also participated in InoBat’s Series B round and has signed a licensing deal for GIB battery technology.
Gourineni said high-profile failures by start-ups like Northvolt and Britishvolt have left automakers demanding proven scale “because they don’t want to risk their EV programmes”.
InoBat has a pilot production line making high-performance EV batteries in Voderady, near Bratislava, and will also be Gotion’s “European face” for larger gigafactories, Bocek said.
“Investors look at us and see our big brother (Gotion) will ensure our cells get produced,” Bocek told Reuters.
MAJOR BLOW
Sweden’s Northvolt raised more than $10 billion but failed in its plans to mass-produce EV batteries and compete with China’s experienced and deep-pocketed BYD and CATL.
