German car manufacturer Volkswagen is still considering taking its battery division PowerCo public. Renault recently withdrew similar plans due to market concerns. According to a Bloomberg report, a slowdown in demand for electric vehicles makes an Initial Public Offering (IPO) of PowerCo this year or next year unlikely.
Investor Interest Remains Strong
As Volkswagen told Dow Jones Newswires, an IPO remains a possibility. According to VW, global growth in electric mobility continues, although not as strong as expected. Despite the difficult market environment, which prompted Renault to withdraw IPO plans for its electric car subsidiary Ampere, investor interest in PowerCo remains high, says Volkswagen. The company did not provide a timeline for a potential IPO.
