Volkswagen's battery unit, PowerCo, may not have an IPO before 2026 due to operational factory requirements.
Volkswagen's battery unit boss, Thomas Schmall, told Reuters that the company will not consider an IPO until its factories are operational and the unified battery cell is in use. This indicates that a potential IPO for PowerCo battery business may be unlikely before 2026. Volkswagen split off its battery unit in 2022 with plans to build plants reaching 240 gigawatt-hours of capacity by 2030.
March 04, 2024
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