Automotive: Volkswagen to acquire stake in both Chinese battery supplier and NEV carmaker Volkswagen AG is reportedly in final talks to close two investment deals in the Chinese EV space, with EV manufacturer JAC and battery maker Guoxuan High-Tech. The German carmaker is expected to acquire 50% of Anhui Jianghuai Automobile Group Holding, the parent company of EV partner JAC Motors, for US$491M. It is also set to become the largest shareholder in battery maker Guoxuan High-Tech, a deal in the making since January 2020.
FA & General Banter, page-11111
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