Guoxuan Says in Talks With Volkswagen, Hasn’t Reached Binding Agreement

SHANGHAI — Guoxuan High-Tech Co Ltd is in talks with Volkswagen AG for potential strategic cooperation in technology, product, and capital, the Chinese battery maker wrote in a company filing on Monday.

Guoxuan added it has not reached a legally binding agreement with the German automaker regarding the terms and conditions of its cooperation.

On Friday, Reuters reported that Volkswagen was preparing to purchase a 20% stake in Guoxuan.

(Reporting by Josh Horwitz)


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