Volkswagen said to push back battery unit IPO plans

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.