Guoxuan Hi-Tech built a battery material factory in the United States

Recently, Michigan announced that Guoxuan Hi-Tech plans to invest $2.
36 billion in the state to build a battery cathode and anode material factory
.

After the completion of the project, it can produce 150,000 tons of cathode materials and 50,000 tons of anode materials
per year.
In addition, Michigan will also provide approximately $175 million in investment incentives for
Guoxuan Hi-Tech.
At the same time, the Fuxing Industrial Zone of the factory built by Guoxuan Hi-Tech will also provide various preferential tax policies
for enterprises in the area.

According to public information, Guoxuan Hi-Tech specializes in the research and development, production and management
of new lithium-ion batteries and their materials.
According to data released by SNE Research, a Korean market research company, in January ~ August this year, Guoxuan Hi-Tech ranked eighth
in the world with 8.
4GWh of power battery installed capacity and 2.
9% market share.
In terms of performance, in the first half of 2022, Guoxuan Hi-Tech achieved operating income of 8.
638 billion yuan, a year-on-year increase of 143.
24%; The net profit was 64.
623 million yuan, a year-on-year increase of 34.
15%.

Recently, Guoxuan Hi-Tech has made frequent moves in
the US market.
On December 20 last year, Guoxuan Hi-Tech issued an announcement that the overseas wholly-owned grandson company Guoxuan signed an agreement with a large listed automobile company in the United States, and in 2023~2028, the automobile company is expected to purchase a total of no less than 200GWh
of lithium iron phosphate batteries from Guoxuan Hi-Tech.
At the same time, the two parties also jointly explored the possibility of
establishing a joint venture.
On June 10 this year, Guoxuan Hi-Tech issued a bidding announcement for the centralized procurement of new lithium battery 60GWh production line cell equipment (II), and the United States is one of the implementation sites of
the project.