After Porsche also the business unit that deals with batteries within the group Volkswagen may be listed on the stock exchange. The Wolfsburg giant would be evaluating a new IPO for its PowerCo business unit which deals in particular with accumulators for electric cars, with the company having already started some preliminary talks with a series of investors to understand their willingness to support the company’s listing on the stock market. VW would have refused to comment on the indiscretion reported by various newspapers but in the past it had already expressed its willingness to proceed with the listing of the division specializing in batteries on the stock exchange.
As Reuters recalls, it was the same at the Porsche IPO Volkswagen CFO Arno Antlitz to talk about the hypothesis of new strategic partnerships and operations similar to the one carried out with the Stuttgart car manufacturer to strengthen the group’s electrification strategies. Now that the Zuffenhausen brand has been listed, there’s no hurry, but VW is still working towards a new operation of this kind with PowerCo. In the past also the former CEO of Wolfsburg Herbert Diess he had feared the idea of an IPO for the business unit specialized in the production of batteries but also in the extraction of raw materials and in research projects and Second Life for accumulators.
In August PowerCo and the Belgian group Umicore signed an agreement an agreement to build a large-scale supply chain for sustainable battery materials which foresees an investment of three billion euros with the aim of producing battery materials for more than two million fully electric cars a year by the end of the decade. VW has set aside 21 billion euros in favor of the operations of the company that deals with batteries and the search for new investors and a listing on the Stock Exchange could further encourage the expansion of the group’s operations. At the moment the talks, if confirmed, would only be in a preliminary phase, with the operation not expected to materialize before 2023.
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