Guoxuan Hi-Tech nominated five new directors and senior executives of Volkswagen.

Battery China learned that on November 26, Guoxuan Tech held the 15th meeting of the eighth board of directors and formally nominated Andrea Nahmer, head of the production, products and investment control business of Volkswagen AG, as the new non-independent director candidate, and four people, including Professor Sun Zhe of Columbia University in the United States, were nominated as independent director candidates. Frank Engel, director of Guoxuan Hi-Tech and vice president of Volkswagen Group (China) ("Volkswagen China" for short), said in a speech that Volkswagen China will work with Chairman Li Gong to protect Guoxuan as a "treasure" in the future.

The meeting examined and adopted the "motion on the by-election of independent directors of the eighth session of the board of directors" and the "motion on the by-election of non-independent directors of the eighth session of the board of directors". Andrea Nahmer recommended by Volkswagen China was nominated as a non-independent director of the eighth board of directors of Guoxuan Hi-Tech. Ms. Andrea Nahmer graduated with a master's degree from the University of Politics and Economics in Hamburg, Germany. She joined Volkswagen AG in 2001 and is currently the head of the production, product and investment control business of Volkswagen AG. In addition, Professor Sun Zhe, Co-Director of the China Program of Columbia University, Ms. Zhou Yi, Global Vice President of IBM, Professor Qiu Xinping of Tsinghua University, and Mr. Wang Feng, CFO of Flash Express Software (Beijing) Co., Ltd., were nominated as independent directors.

With the nomination of five new directors, two current non-independent directors and three independent directors of the board of directors of Guoxuan Hi-Tech will end their term of office. Li Jie thanked the directors for their "sincere concern for Guoxuan" and appointed four outgoing directors, Lei Guang, Qiao Kun, Wang Zhitai and Sheng Yang, as "Guoxuan Hi-Tech Special Strategic Advisor".

After the directors of this by-election are elected, the eighth board of directors of Guoxuan Hi-Tech is still composed of 9 members, including 4 independent directors.

According to an announcement issued in May 2020, Guoxuan Hi-Tech will receive a strategic investment of about 1.1 billion euros from Volkswagen in China, which will acquire a 26.47 per cent stake in the company and become the largest shareholder. In August 2020, Frank Engel, vice president of Volkswagen China, first appeared on the board of directors of Guoxuan Hi-Tech as a non-independent director.