Volkswagen to build electric cars in China

Volkswagen is partnering with a Chinese automaker to build electric and hybrid vehicles in the country.

The German company's preliminary agreement with Anhui Jianghuai Automobile could lead to a joint venture.

"We believe this cooperation would not only benefit our two organizations, but would also be of great value to our customers, a sound environment and the Chinese society in general," Volkswagen CEO Matthias Mueller said in a statement.

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