Volkswagen said to acquire 20% stake in Chinese battery maker Guoxuan

Volkswagen said to acquire 20% stake in Chinese battery maker Guoxuan

An employee stands on the top of a tower at the Volkswagen AG automobile factory in Wolfsburg, Germany, on Friday, April 22, 2016. Photographer: Krisztian Bocsi/Bloomberg

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.