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

Reuters | Posted: Jan. 20, 2020, 12:57 p.m. | Updated: Jan. 19, 2020, 10:51 p.m. | 1 Min Read

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SHANGHAI (Reuters) - Guoxuan High-Tech Co Ltd <002074.SZ> is in talks with Volkswagen AG 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.

(Reporting by Josh Horwitz)

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