Volkswagen wants a 20 percent stake in Guoxuan High-tech Company, a Chinese manufacturer of battery packs for electric cars. Reuters news agency reports based on sources.
According to two insiders, the deal will be settled in the coming weeks. The agreement may involve an amount of $ 560 million, or € 504 million.
Volkswagen refused to respond, while no response from Guoxuan had yet arrived at Reuters at the time of publication. Volkswagen is already purchasing from another Chinese producer, Contemporary Amperex Technology (CATL).
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