The world’s largest car company shot, or change the pattern of power batteries.
Editor’s note: This article is from the micro-channel public number “car stuff” (ID: chedongxi) , Author: Juice .
Car stuff May 29 news, the scandal between Volkswagen and Guoxuan Hi-tech has finally become a reality.
On the evening of last night, Guoxuan High-tech announced that it had signed the “Condition of Share Subscription and Strategic Cooperation for the Non-Public Issuance of A Shares by Guoxuan High-Tech Co., Ltd.” It holds 440802578 shares of Guoxuan Hi-tech, accounting for 26.47% of the total share capital, and is the largest shareholder of Guoxuan Hi-Tech.
▲ Guoxuan High-tech released an announcement to confirm that the public is the owner
Li Xuan, founder of Guoxuan Hi-Tech, and its concerted parties will hold a total of 303,126,849 shares of the company, accounting for 18.20% of the total share capital, making it the second largest shareholder of the company.
The agreement also stated that after the transaction, the total number of Guoxuan Hi-Tech ’s board of directors will remain unchanged, but Volkswagen China will recommend four people to be nominated and elected as directors of listed companies, including two non-independent directors and two independent director. At the same time, Volkswagen China will give up the voting rights of some stocks, so that the original largest shareholder Li Zhen is still the actual controller of the company. As a result, Guoxuan Hi-Tech also became the first battery company that Volkswagen took over in China.
▲ Proportion of equity after the transaction changes
In fact, the public has long coveted Guoxuan Hi-tech for a long time. Guoxuan High-tech once issued a suspension announcement of the company’s stocks and convertible corporate bonds on May 19, saying that the company’s largest shareholder and actual controller may change. It will be suspended on May 20. By the evening of 26th, Guoxuan High-tech Announced again that starting from the 27th, the company’s stocks and convertible corporate bonds will continue to be suspended.
At that time, the outside world was rumored that the public may be the new shareholders coming soon.
The purpose of Volkswagen ’s entry into Guoxuan Hi-Tech is very clear, that is to further make up for the shortcomings of power batteries, Volkswagen plans to produce 26 million electric vehicles in the next ten years, which means that Volkswagen ’s demand for power batteries is also huge . In addition, half of these 26 million electric vehicles will be produced domestically, so it is crucial to have a power battery company in China.
Guoxuan Hi-Tech was once the third-ranked power battery supplier in China, second only to the Ningde era and BYD. Therefore, in the eyes of the public, joining Guoxuan Hi-Tech is the most direct way for Volkswagen to obtain battery freedom in China.
VW and Guoxuan Hi-tech have been rumored for a long time and finally hammered
Previously, foreign media reported that Volkswagen Group plans to acquire 20% of Guoxuan Hi-Tech through discount private equity placement.
However, neither Volkswagen nor Guoxuan Hi-Tech responded to the acquisition at the time. Guoxuan Hi-Tech only responded that it is discussing with Volkswagen on possible future strategic cooperation in technology, products, capital, etc. There is consensus on specific aspects such as cooperation methods, content and prices.
After this acquisition, no new news came out, and on April 21, a source said that the Volkswagen Group has obtained the approval of the board of directors for the acquisition of Guoxuan High-tech equity. The method of transfer became the largest shareholder of Guoxuan Hi-Tech.
▲ Hefei Guoxuan High-tech
The person familiar with the matter revealed that the Volkswagen Group will become the largest shareholder of Guoxuan Hi-Tech by issuing additional shares of no more than 30% and transferring part of the shares by agreement, and will further become a controlling shareholder of Guoxuan Hi-Tech within the next three years shareholder.
It is reported that Guoxuan Hi-TechThe 30% share is equivalent to US $ 740 million (approximately RMB 5.24 billion), which means that Volkswagen will invest US $ 740 million (approximately RMB 5.24 billion) to acquire Guoxuan Hi-Tech.
However, after the news came out, Guoxuan Hi-Tech once again denied the accuracy of the news, but continued rumours with the public made the public more convinced that the public is the next owner of Guoxuan Hi-tech.
On May 20 and May 27 this year, Guoxuan High-tech suspended trading twice, saying that the company’s largest shareholder and actual controller may change. With today’s official document of Guoxuan High-tech, the public has finally become the master The rumors of Guoxuan Hi-tech became a reality.
Volkswagen has already laid out power batteries, and China ’s layout has begun to show scale
Actually, according to Volkswagen’s previous plan, its demand for power batteries is very large. Volkswagen plans to produce 26 million electric vehicles in the next ten years, so many vehicles need enough power batteries to support it.
Prior to this, Volkswagen has formulated several measures to solve the problem of insufficient supply of power batteries. In July 2019, Volkswagen Group stated that its order for electric vehicle batteries will amount to 50 billion euros (approximately RMB 393 billion). The major battery suppliers that have been identified include Ningde Times and LG Chem.
Volkswagen also invested 900 million euros (about 7 billion yuan) on June 13, 2019 to jointly develop power batteries with European lithium battery company Northvolt.
▲ Northvolt Battery Factory
In addition to purchasing batteries and factories, Volkswagen has also established a “Center of Excellence” in Salzgitter, Germany. This center gathers professionals responsible for battery development, procurement and quality control, and is responsible for the research and development of all Volkswagen Group battery cells. , Procurement and quality assurance work.
In order to reduce the cost of batteries, Volkswagen has also invested in upstream supply chain enterprises and established recycling plants, and has also deployed upstream raw materials. Volkswagen also proposed a power battery recycling plan. Volkswagen claims that its battery raw material recycling rate is 53%, which will increase to 97% in the future.
These measures cover the entire process of power battery from raw material supply to self-production, which also shows the public’s determination in electrification.
In addition, nearly half of Volkswagen ’s 26 million electric vehicles will be born in ChinaAs a result, the entry into Guoxuan Hi-Tech is also part of Volkswagen ’s many battery plans. It has a battery company in China that can quickly provide batteries for domestic electric vehicles.
Conclusion: Volkswagen ’s determination to electrify is very firm
The sales of electric vehicles are increasing day by day, and the electrification trend is irreversible. Car companies have begun to launch their own electric vehicles, and Volkswagen Group has formulated a quite detailed electrification plan.
The power battery is the core component of the electric vehicle. It is not always safe to let the core components be in the hands of others, so the public will continue to exert power in the power battery.
In order not to be caught by suppliers, Volkswagen is also actively deploying power batteries. Both China, the United States and Europe have power battery layouts. With the gradual improvement of the power battery layout, Volkswagen ’s electrification will be more stable in the future.