Porsche is currently negotiating a potential investment in Vartaʼs activities in the field of electric vehicle (EV) batteries. This involves Porsche acquiring a majority stake in V4Drive Battery GmbH, a wholly-owned subsidiary of Varta AG. According to the battery manufacturer, a non-binding term sheet has already been signed. Both parties are working on the documentation for the transaction.
Porsche is main customer for V4Drive batteries
Porscheʼs participation in V4Drive Battery GmbH is planned through a capital increase. However, this is dependent on a due diligence review by Porsche, the approval of certain stakeholders, and more. Vartaʼs V4Drive division was founded in 2021 to develop and produce large-format lithium-ion cells for electric vehicles. The 21700 round cells are produced at the companyʼs headquarters in Ellwangen. Main customer for V4Drive batteries is already Porsche, which uses these cells for its high-performance hybrid drives.
Sources:
https://www.varta-ag.com/en/about-varta/news-press/details/varta-ag-in-talks-with-porsche-about-investment-in-v4drive-business
https://www.swr.de/swraktuell/baden-wuerttemberg/ulm/porsche-varta-e-auto-batteriegeschaeft-100.html
