German carmaker Volkswagen is pushing back plans to seek outside investors for its battery unit as prospects for the business dim in a cooling EV market, Bloomberg News reported on Tuesday, citing people familiar with the matter.
The company also faces doubts it can make its own batteries at scale, the report said, adding Volkswagen is no longer prioritising stake sales or a potential listing of the PowerCo business this year or next.
Volkswagen said to push back battery unit IPO plans
Image: Sean Gallup/Getty Images)
German carmaker Volkswagen is pushing back plans to seek outside investors for its battery unit as prospects for the business dim in a cooling EV market, Bloomberg News reported on Tuesday, citing people familiar with the matter.
The company also faces doubts it can make its own batteries at scale, the report said, adding Volkswagen is no longer prioritising stake sales or a potential listing of the PowerCo business this year or next.
READ MORE
Stellantis begins production of large hydrogen vans in Poland
GM looks for a road out of Tesla's shadow
Toyota keeps crown as world's top-selling carmaker in 2023
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Most read
Latest Videos