New Guoxuan in Thailand was established

Guoxuan High-tech signed a cooperation agreement with Nuovo Plus, a subsidiary of Thailand's PTT Group, to establish Thailand's new Guoxuan, which focuses on the design, development and manufacturing of battery modules and Pack products. The joint venture aims to explore the ASEAN new energy market and is committed to becoming a battery export base to ASEAN. Thailand's new Guoxuan plans to build a lithium battery Pack production line in Thailand's Eastern Economic Corridor, which is expected to be put into production in the fourth quarter of 2023.