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Volkswagen Becomes Biggest Shareholder Of China's EV Battery Maker Guoxuan

Volkswagen is in final talks to invest in the Hefei-based battery company on Wednesday.

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German automaker Volkswagen AG has become the biggest shareholder of China's electric vehicle battery maker Guoxuan High-Tech Co Ltd with a 26.5% stake, Guoxuan said in stock exchange filings on Thursday.

Reuters reported the Volkswagen is in final talks to invest in the Hefei-based battery company on Wednesday.

Guoxuan said it will restart share trading on May 29. Volkswagen did not immediately respond to a request for comment.

(Reuters)


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volkswagen shareholder Guoxuan china