Exciting News: Volkswagen’s Battery Unit PowerCo to Welcome Investors in 2022
At a roundtable in Berlin on Friday, Volkswagen’s battery chief Thomas Schmall announced that PowerCo, the company’s battery unit, will be ready for investors at the beginning of next year. This follows the statement made by Chief Financial Officer Arno Antlitz last month, hinting at the possibility of a strategic investor in the unit by 2024.
More Details to Come
Schmall refrained from providing further information during the roundtable, stating that Volkswagen’s capital markets day next Wednesday will reveal more about PowerCo. Meanwhile, Antlitz mentioned in May that there is significant interest in the unit, but the carmaker is still evaluating how long to keep it on its books.
(Reporting by Victoria Waldersee, Jan Schwartz; Editing by Miranda Murray)
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