Comprehensive Iteration of Battery Cell Technology! Guoxuan High-Tech Increases Capacity of a Power Battery Project to 28GWh!
On April 25, Guoxuan High-Tech announced a change in the use of raised funds. During the twelfth meeting of its ninth board of directors and the twelfth meeting of its ninth supervisory board, the company approved the proposal to change the name of the original fundraising project from “Annual Production of 20GWh Standard Lithium-ion Battery Project” to “Standard Lithium-ion Battery Production Line Project.” The content of the project implementation has shifted from “Annual Production of 20GWh Power Lithium-ion Batteries, including 10GWh of NCM and 10GWh of LFP batteries” to “Annual Production of 28GWh Power Lithium-ion Batteries, including 12GWh of NCM, 16GWh of LFP, and supporting PACK production projects.” The expected time to reach operational status has been adjusted from December 2024 to December 2026.
The announcement outlined the reasons for the changes. Driven by the rapid growth of new energy vehicles, the cumulative installation of power batteries in China is projected to reach 548.4GWh in 2024, marking a year-on-year growth of 41.5%. Of this, LFP batteries account for over 74%. Globally, the total installed capacity of power batteries is expected to reach 894.4GWh, an increase of 27.2% year-on-year, with LFP batteries constituting more than 74.6%.
To enhance the efficiency of fund utilization and meet the strategic clients’ demand for high-performance power lithium batteries, Guoxuan High-Tech plans to adjust the purpose of the raised funds. The original project will be changed to the “Standard Lithium-ion Battery Project.” In response to the demand from strategic clients for high-performance lithium-ion batteries, the company will optimize and upgrade the production line processes based on the existing achievements of the fundraising project, further expanding the capacity of power battery production.
Moreover, as the original performance indicators of the battery cell design no longer align with the latest technical requirements from strategic customers, this capacity enhancement will also involve a comprehensive iteration of the cell design to ensure that product performance meets industry-leading standards and effectively fulfills customer demands for high-performance and high-reliability power batteries.
This capacity boost will extensively apply the company’s self-developed high-voltage, high-density positive materials and high-rate cell technology. By optimizing the formulations for positive and negative electrode materials, as well as improving the cell structure design and manufacturing processes, the company aims to produce a new generation of high-performance power lithium-ion cells characterized by high energy density, high charge and discharge efficiency, and long cycle life.
According to SNEResearch’s forecast for global power battery shipments in 2024, Guoxuan High-Tech is expected to achieve a shipment volume of 32GWh, ranking sixth globally.
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