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On December 20th, Guoxuan Hi-Tech (002074) issued an early announcement that GOTION,INC. (hereinafter referred to as "Guoxuan"), a wholly owned company outside the company, is a supplier to a large listed automobile company in the United States (hereinafter referred to as "the customer"). In order to further deepen cooperation, Guoxuan and the customer recently signed a "Strategic supply and Localization Agreement". The two sides hope to reach strategic cooperation in the supply and procurement of lithium iron phosphate batteries (hereinafter referred to as "LFP batteries").
According to the agreement, the customer is expected to purchase no less than 200GWh batteries from the US National Xuan from 2023 to 2028, and the US National Xuan needs to ensure that the number of batteries required by the customer is met. It is reported that in order to meet the battery needs of customers, on the one hand, Guoxuan Tech will export LFP batteries through the battery production base in mainland China; on the other hand, Guoxuan plans to localize the production and supply of LFP batteries in the United States and jointly explore the possibility of establishing a joint venture company in the future. The above LFP battery products will be used in the customer's electric vehicles and other applications in the US and global markets.
The battery network learned that the customer will support the construction costs, equipment procurement costs and other expenses required by the US National Xuan to build a factory in the United States through phased prepayments, which can be used to deduct the loan or build a joint venture factory in the later stage. The rest will be repaid by installments in accordance with the agreement.
In addition, the two sides also held friendly consultations on the joint venture or other cooperative efforts, in addition to the joint venture to build a battery production base, the scope of the joint venture may include investment in upstream materials and downstream battery recycling industries.
Guoxuan Tech said that the signing of this agreement is based on the close supply and demand cooperation between the two sides, indicating the customer's recognition of the company's R & D capabilities, management and operation capabilities, process technology, quality management, production and supply system, and so on. The signing of the agreement further deepens the long-term and stable strategic cooperation between the company and the customer. At the same time, it can speed up the process of internationalization and consolidate the leading position in the industry, which is in line with the company's long-term development strategy and the interests of all shareholders.
It is worth noting that on the afternoon of December 17, Guoxuan Hi-Tech held the 2021 supplier Conference and 2022 Strategy Conference. Wang Qiang, president of Hefei Guoxuan, said that in 2021, Guoxuan high-tech production capacity increased by 74%, delivery volume increased significantly, and the market capitalization exceeded 100 billion. In 2022, the market layout of Guoxuan Hi-Tech covers four major areas: automotive, energy storage, specialty and recovery. It will continue to build or expand on the basis of the ten major production bases. By the end of 2022, Guoxuan's production capacity is expected to reach 100GWh.It is planned to put into production to exceed 50GWh.
