Volkswagen acquires 20% stake in Guoxuan Hi-Tech

SMM1, March 17: Volkswagen is reported to be buying a 20 per cent stake in Chinese battery maker Guoxuan Tech. A shares, Guoxuan high-tech afternoon straight-line seal, trading volume of more than 700 million.

It is reported that Volkswagen has been studying several possible acquisition targets, including battery maker Guoxuan Hi-Tech Co., Ltd., but has not made public the relevant information.

Volkswagen believes that if it can find the right battery suppliers in the Chinese market, ensuring the supply of batteries is crucial to Volkswagen's new energy vehicle market in China.

Guoxuan Hi-Tech disclosed in April that it was in talks with a well-known international carmaker, and that when and how to cooperate remains to be further communicated and observed.

In recent years, Guoxuan High Technology has been focusing on lithium iron phosphate battery in the battery field. Guoxuan High Technology has mass produced lithium iron phosphate battery with monomer energy density in 180Wh/kg in 2018, and its performance is close to that of ternary 523. Guoxuan Hi-Tech plans to mass-produce lithium iron phosphate batteries with an energy density of more than 400km in 190Wh/kg in 2019.

At the same time, the company also plans to increase the energy density of lithium iron phosphate monomer cell to near 200Wh/kg.

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