Volkswagen to buy 20% of Chinese battery maker Guoxuan amid electric push

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Filed under: Green,Volkswagen,Electric

HONG KONG/BEIJING (Reuters) - Volkswagen AG is set to take a 20% stake in Chinese electric vehicle battery maker Guoxuan High-tech Co Ltd , two sources told Reuters, as the German firm accelerates its electric push into the world's largest auto market. The deal would mark Volkswagen's first direct ownership in a Chinese battery maker and comes as the Wolfsburg-based automaker strives to meet a goal of selling 1.5 million new energy vehicles (NEVs) a year in China by 2025,Continue reading Volkswagen to buy 20% of Chinese battery maker Guoxuan amid electric push

Volkswagen to buy 20% of Chinese battery maker Guoxuan amid electric push originally appeared on Autoblog on Sun, 19 Jan 2020 12:30:00 EST. Please see our terms for use of feeds.



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