Guoxuan says in talks with Volkswagen, hasn’t reached binding agreement

SHANGHAI (Reuters) – Guoxuan High-Tech Co Ltd (002074.SZ) is in talks with Volkswagen AG (VOWG_p.DE) 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.

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