The German Federal Cartel Office has approved Porscheʼs acquisition of a majority stake in V4Drive Battery GmbH. The Varta subsidiary develops large-format lithium-ion battery cells for electric vehicles. In addition, Porsche itself will be able to acquire a minority stake in Varta AG, without acquiring any rights of control or strategic decision-making powers over the company as a whole.
Players are active in different markets
The Cartel Office does not see any competition concerns as Porsche and Varta are active in different markets. No significant changes are expected in the supply chain either. Varta will remain a minority shareholder of V4Drive. Porscheʼs investment is part of a broader restructuring plan to stabilize Vartaʼs financial situation. Due to the high level of debt, Varta had decided on a debt reduction and capital injection, in which Porsche is participating with 30 million euros.
