According to Germany’s Frankfurter Allgemeine Zeitung (FAZ), Porsche is considering acquiring a minority stake in VARTA to protect its potential investment in the struggling battery manufacturer’s large-scale lithium-ion battery business.
VARTA announced on July 4, 2024 that it was in negotiations with Porsche regarding investment in the large-scale lithium-ion cylindrical battery V4Drive. As per the plan, this business would be transferred to V4Drive Battery GmbH, with Porsche participating through capital increases.
In 2019, Volkswagen Group announced a joint venture with Northvolt for battery development and production, which set off a boom in the layout of batteries by European automobile companies.
In 2021, Volkswagen partnered with QuantumScape in solid-state battery technology, investing $1 billion (US) to become its largest shareholder. In 2024, Volkswagen planned to increase its stake in QuantumScape and add an additional $200 million (US) investment.
FAZ also reported that to support the plan to cooperate on the cylindrical battery, Porsche might also hold a minority stake in Varta AG, the parent company of V4Drive.
VARTA’s current market value is approximately 440 million euros (approximately $477.8 million US). Both Porsche and VARTA have not yet commented on this news.
Source: WeChat Official Account—鑫椤锂电
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