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Porsche and Varta AG are set to deepen their strategic partnership with plans for Porsche to acquire a majority stake in V4Drive Battery GmbH, a subsidiary of Varta focused on large-format lithium-ion round cells. The move includes Porsche’s involvement in the financial reorganization of Varta AG, ensuring the continued development of high-performance battery technology in Germany.
Key Highlights:
- Porsche plans to acquire a majority stake in V4Drive Battery GmbH.
- Varta AG will remain a minority shareholder in V4Drive Battery GmbH.
- Porsche to participate in Varta’s financial restructuring with a €30 million investment.
- The construction of a new production facility in Nördlingen continues as planned.
- Completion of the takeover is subject to antitrust approvals and successful financial restructuring.
Porsche AG and Varta AG are advancing their existing partnership with a focus on high-performance battery cells. Porsche’s planned acquisition of a majority stake in V4Drive Battery GmbH is part of this strategy. This entity consolidates Varta’s business related to large-format lithium-ion round cells, specifically used in the performance hybrid drive of the Porsche 911 Carrera GTS.
The new production facility for booster cells in Nördlingen, initiated in spring 2024 by Porsche, will continue its development as scheduled. Porsche plans to contribute this facility to V4Drive Battery GmbH, with intentions for V4Drive to expand its customer base beyond Porsche.
“Varta and Porsche are already working closely together on the topic of high-performance battery cells. With the planned majority takeover of V4Drive, we aim to drive the company forward and would make an important contribution to keeping key technologies in Germany,” said Lutz Meschke, Deputy Chairman of the Executive Board and Member of the Executive Board for Finance and IT at Porsche AG.
As Varta AG retains a minority stake in V4Drive, the company requires a stable financial foundation. Porsche and other partners have expressed their willingness to support Varta’s financial reorganization. This includes Porsche’s investment of €30 million, which will directly benefit Varta AG.
The completion of Porsche’s majority acquisition is contingent upon receiving antitrust approvals in various countries and the successful financial restructuring of Varta AG.
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