on Porsche AG (isin : DE000PAG9113)
Porsche and Varta Deepen Strategic Partnership
Porsche AG and Varta AG are set to enhance their strategic alliance significantly. Porsche plans to take a majority stake in V4Drive Battery GmbH, Varta's division focused on large-format lithium-ion round cells. These cells power the hybrid drive of the Porsche 911 Carrera GTS.
The partners will continue to develop a new production facility for booster cells in Nördlingen. Porsche intends to offer this facility as a contribution in kind to V4Drive, which aims to expand its customer base beyond Porsche.
Lutz Meschke, Deputy Chairman of Porsche AG, stated that this takeover aims to propel V4Drive forward and retain crucial technologies in Germany. Varta will remain a minority shareholder, requiring a stable financial foundation.
Porsche and its partners will support the financial restructuring of Varta AG, contributing 30 million euros. This move awaits antitrust approvals and the successful financial reorganization of Varta AG.
R. H.
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