On November 18, 2022, Guoxuan Gaoke and Vietnam Vin Group jointly started the battery factory in Ha Tinh Economic Development Zone, Vietnam. The first phase of the project is planned to have an annual capacity of 5GWh. It is the first lithium iron phosphate battery factory in Vietnam and is expected to be put into production by the end of 2023.

Vietnam VinES belongs to Vin Group, the largest private enterprise in Vietnam, and is mainly responsible for the production of power batteries. The group's VinFast is a leading new energy vehicle manufacturer in the world, and its products are sold to Southeast Asian markets, Europe and the United States. The factory is jointly invested by Guoxuan Hi Tech and VinES under Vietnam Vin Group, of which Guoxuan Hi Tech holds 51% shares and VinES holds 49% shares. In the future, the products of the factory will meet the battery demand of Vietnam VinFast new energy vehicles.

Li Zhen, chairman of Guoxuan Hi Tech, said that the battery factory that the company cooperates with Vin Group will support the demand of VinFast's electric vehicles for batteries, not only to help Vietnam's energy reform, climate friendly and economic development, but also to jointly contribute to the energy civilization of human society.

Guoxuan Hi Tech introduced that since 2022, the company's globalization strategy has been gradually implemented. In June, it reached a strategic cooperation with Argentina JEMSE, and plans to establish a battery grade lithium carbonate production line in Argentina's HuHuyi Province through joint venture; At the same time, Guoxuan officially unveiled its brand, opening the step of "Made in Europe" for Guoxuan batteries. Keywords: overseas news, engineering news

In July, the company's general depositary receipts were listed on the Swiss Exchange; In September, a strategic cooperation agreement was signed with Sumida to promote the export business of energy storage products. According to the company's plan, it is expected to achieve global production capacity of 300GWh by 2025, including 100GWh overseas, helping to achieve global carbon neutrality. In terms of performance, in the first three quarters, Guoxuan Hi Tech achieved an operating income of 14.426 billion yuan, a year-on-year increase of 152%, and a net profit of 150 million yuan, a year-on-year increase of 121%.Editor/Xing Wentao