Volkswagen Closes in on Deals in China EV Sector, Reuters Reports
May 27 2020 - 2:01AM
Dow Jones News
--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
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(END) Dow Jones Newswires
May 27, 2020 01:46 ET (05:46 GMT)
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