FILE PHOTO: A Volkswagen logo is seen at a construction completion event of SAIC Volkswagen MEB electric vehicle plant in Shanghai, China November 8, 2019. REUTERS/Aly Song/File Photo
SHANGHAI (Reuters) – Guoxuan High-Tech Co Ltd (002074.SZ) is in talks with Volkswagen AG (VOWG_p.DE) 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