Volkswagen China sells a 5.30% stake in Gotion High-Tech to Hefei Construction Investment for about RMB 2.32 billion

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Gasgoo reported on 10 November that Hefei's state assets regulator approved Hefei Construction Investment buying 96.18 million Gotion High-Tech shares, 5.30% of the company, from Volkswagen China at RMB 24.09 each, about RMB 2.32 billion, roughly 4% below the 5 November close. VW falls from 24.28% to 18.98% but stays the largest shareholder, citing its own business needs.