Financials, Automotive Dec 20, 2021 08:09 AM (GMT+8) · EqualOcean
GuoXuan hi tech announced that American GuoXuan, an overseas wholly-owned subsidiary, is a supplier of a large listed automobile company in the United States. In order to further deepen cooperation, GuoXuan and the customer recently signed the strategic supply and localization agreement. The two sides hope to reach strategic cooperation in the supply and procurement of lithium iron phosphate batteries. On the one hand, based on the needs of the customer, the company will export LFP batteries through the battery production base in mainland China; On the other hand, the two sides plan to produce and supply LFP batteries locally in the United States and jointly explore the possibility of establishing a joint venture in the future. The above LFP battery products will be used for electric vehicles and other applications in the U.S. and global markets.
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