Guoxuan High-Tech is the third-largest battery supplier in China. In the ranking of power battery installed capacity in 2019, Guoxuan Hi-Tech’s battery installed capacity reached 3.22GWh, second only after CATL and BYD. On 28th May 2020 the company announced that they signed an agreement with Volkswagen, who will invest approximately 1.1 bn EUR to acquire 26.47% of Goxuan Hi-Tech.
On 17th September 2020, at the Global New Energy Vehicle Supply Chain Innovation Conference hosted by the China Electric Vehicles Association, Xu Xingwu, senior vice president of Guoxuan Hi-Tech, believed that if to further increase the energy density of the battery, the more reliable approach is solid-state battery technology.
The product battery roadmap of Guoxuan Hi-Tech assumes that solid-state battery technology will be introduced from 2020 to 2022; it will start the iterative upgrade of solid-state battery technology in 2022 to produce high-safety solid-state batteries; after 2025, it will produce energy density exceeding 800Wh/L and exceeding 400Wh/kg, all-solid-state battery with 800 cycles.
Currently, Guoxuan focuses on advancing lithium iron phosphate batteries (LFP) both in the prismatic and cylindrical cell format, and the company also produces LTO batteries. The company stated they are able to produce LFP cells with an energy density of 190 Wh/kg and are planning to reach 210 Wh/kg on cell-level in the lab later in 2020.
Guoxuan Hi-Tech is listed at the Shenzhen Stock Exchange.