--Volkswagen AG is poised to buy a 50% stake in the parent of its electric-vehicle partner Anhui Jianghuai Automobile Group Corp. for at least 3.5 billion yuan ($490.5 million), Reuters reported, citing unnamed sources.

--The German car maker is also set to become the biggest shareholder of EV battery maker Guoxuan High-Tech Co., Reuters said, adding both deals could be announced as early as Friday.

 

Full story: https://reut.rs/3d95u5O

 

Write to Singapore editors at singaporeeditors@dowjones.com

 

(END) Dow Jones Newswires

May 27, 2020 01:46 ET (05:46 GMT)

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