Volkswagen will control Guoxuan Hi-Tech to become the largest shareholder of the latter for US $740 million

Published: Apr 21, 2020 15:10

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SMM4 21: today Guoxuan high-tech shares rose by the limit, the limit is expected to change the actual controller.

According to market news, there has been new progress in the deal for Volkswagen Group to acquire shares in Chinese electric vehicle battery maker Guoxuan Hi-Tech Co., Ltd.: according to people close to the incident, Volkswagen Group on the acquisition of Guoxuan Hi-Tech stake has been approved by the board of directors a few days ago, will become Guoxuan Hi-Tech's largest shareholder through a private placement and equity transfer. According to the latest developments, Volkswagen's acquisition of a stake in Guoxuan has risen to 30 per cent and is worth $740 million, making Volkswagen the largest shareholder in Guoxuan.

Guoxuan Hi-Tech's main business is divided into two parts: power lithium battery and power transmission and distribution equipment. Among them, Hefei Guoxuan is mainly engaged in power lithium battery business, Dongyuan Electrical Appliances is mainly engaged in power transmission and distribution business. Guoxun high power lithium battery production and sales ranks in the forefront of the domestic, the main products include power lithium ion battery pack products, monomer lithium ion battery (cell), power lithium battery cathode materials and so on. Among them, the cathode material produced by the company is used as the key raw material in the production of single lithium ion cell, and the single lithium ion cell is assembled into power lithium battery pack by PACK. The product of power lithium battery pack is the core component of new energy vehicle, which is mainly used in the field of pure electric commercial vehicle, passenger vehicle, special purpose vehicle, hybrid electric vehicle and so on. In addition, the company's power lithium battery pack products can also be widely used in energy storage power stations, communication base stations, wind and light complementary, mobile power supply and other fields.

In terms of power battery installation, in March 2019, the cylindrical lithium iron phosphate battery developed by Guoxuan Hi-Tech began to be loaded in Jianghuai iEV7L. The single energy density of Guan Xuanke battery reaches 190 WH / g, and the energy density of the battery system of passenger cars is 140.24 W / kg, which can meet the mileage of more than 400 km of new energy vehicles. In addition, by adding special additives to the preparation of cathode materials, and optimizing the PACK process and battery package design, Guoxuan Hi-Tech claims that the monomer energy density of lithium iron phosphate battery can break through 200Wh/kg in the experimental stage.

In terms of passenger vehicles, it has formed a stable strategic cooperative relationship with Jianghuai Automobile, which provides high safety and high reliability lithium iron phosphate battery pack for Jianghuai automobile new energy passenger vehicles such as IEV6EL and A50, and the company VDA ternary battery also supplies Chery, Zhongtai and many other models. In commercial vehicles, special vehicles, the company is based on the development trend of the logistics industry and the application and promotion of green new energy special vehicles, the company and SAIC Chase, Jianghuai commercial vehicles, Chery commercial vehicles, Hengtian omni-directional cooperation to develop a number of new products.

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