MUNICH, Could 17 (Reuters) – Volkswagen Chief Monetary Officer Arno Antlitz stated on Wednesday a strategic investor could possibly be discovered for the automaker’s battery enterprise PowerCo by 2024, with a possible itemizing to come back later.
Onlookers “should not be shocked if in 2024 there is perhaps a primary step taken with a strategic investor,” Antlitz stated, talking on the Reuters Automotive Convention in Munich.
Reuters reported final November the group was holding discussions with buyers to hitch its battery division, however plans weren’t but concrete.
On the day of the itemizing of luxurious carmaker Porsche in September, Antlitz had stated Volkswagen was contemplating forming strategic partnerships within the subsequent one to 2 years as a step in direction of a doable itemizing of its PowerCo batteries operation.
“There may be a whole lot of curiosity,” Antlitz stated on Wednesday. “We’ve to resolve how lengthy we wish to preserve it on our books.” (Reporting by Victoria Waldersee, Joseph White; enhancing by Bartosz Dabrowski)
