Volkswagen: battery unit PowerCo will be ‘investor-ready’ early next year

VOLKSWAGEN’S battery unit PowerCo will be ready for investors at the beginning of next year, battery chief Thomas Schmall said at a roundtable in Berlin on Friday (Jun 16).

Schmall’s statement followed comments made last month by chief financial officer Arno Antlitz that onlookers “shouldn’t be surprised if in 2024 there might be a first step taken with a strategic investor” in the unit.

The battery chief declined to give further information on Friday, stating more would be disclosed at Volkswagen’s capital markets day next Wednesday.

Antlitz said in May that interest in the unit was high but the carmaker was evaluating how long to keep it on its books. REUTERS