Dhaka, May 27 -- Volkswagen AG is in final talks to seal its largest investment deals with Chinese electric vehicle (EV) firms, two sources said, as the German automaker accelerates its push into the world's largest market for environmentally friendlier cars.
The firm is poised to buy 50 per cent of Anhui Jianghuai Automobile Group Holding, the parent of EV partner JAC Motors, for at least 3.5 billion yuan ($491 million), the people said on condition of anonymity as the matter was private.
It is also set to become the biggest shareholder of EV battery maker Guoxuan High-tech Co Ltd, the people said, adding both deals could be announced as early as Friday, reports Reuters.
Volkswagen declined to comment on the deals, details of which are ...