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

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SHANGHAI (Reuters) – Guoxuan High-Tech Co Ltd (SZ:) is in talks with Volkswagen AG (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.

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