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Recently, Guoxuan Hi-Tech announced that Hefei Guoxuan, a wholly-owned subsidiary of the company, recently received a procurement appointment letter from Volkswagen AG(Volkswagen AG, hereinafter referred to as “Volkswagen”), and the company has become a designated supplier of Volkswagen in overseas markets.The company will provide lithium iron phosphate standard cell battery products for Volkswagen overseas markets. This appointment is another major market breakthrough made by Guoxuan Hi-Tech after the mass production of ternary and lithium iron phosphate standard batteries in the Volkswagen China market. It also means that the interests of Guoxuan Hi-Tech and Volkswagen in the international new energy vehicle market will be further bound, and the cooperation will be further deepened. As everyone knows, Guoxuan Hi-Tech has embarked on the fast track of high-quality development since it announced the introduction of Volkswagen War Investment in 2020. According to the recently disclosed 2022 financial report, the company’s revenue exceeded 20 billion in the past year, reaching 23.052 billion yuan, a year-on-year increase of 122.59%;Among them, overseas revenue is 2.98 billion yuan, a year-on-year increase of 464.76%; The company’s operating profit in 2022 will reach 199 million yuan, a year-on-year increase of 408.87%; The appointment will be another milestone for the company and Volkswagen to join hands in the international new energy market. Guoxuan Hi-Tech has been producing lithium iron phosphate batteries since 2007. With its excellent technical strength and continuous innovation spirit, it has become one of the world’s leading manufacturers of new energy vehicle power batteries and energy storage systems. At present, Guoxuan Hi-Tech has 8 major R&D centers in the world, it possess technology research and production capacity of battery raw materials, BMS systems development, solid-state battery,etc.It has established production bases in Europe,Southeast Asia, South America and other global areas, has a complete product supply system. According to the plan, Vokswagen’s standard batteries will be mainly produced by Guoxuan Hi-Tech’s factory in Xinzhan High-Tech Zone, Hefei City. The first phase of the 20GWh project of the plant is expected to be put into operation in the second half of this year. When fully completed, it will be able to provide sufficient power battery supply for Volkswagen.
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