Volkswagen Group plans to sell or list the battery division
Recently, according to media reports, the CEO of Volkswagen Group Herbert Dis said that the company is preparing to sell or go public in part of the battery division, and prepare the battery division for capital markets, including the introduction of external partners.
Diss said that if the independent listing is successful, the division is expected to achieve sales of 20 billion euros in 2030.
It is understood that on May 20 last year, Volkswagen will invest 3.5 billion yuan to build its own power battery plant, which will be officially put into operation in 2023. The change in the direction of the battery sector this time is related to the current overall reform of the Volkswagen Group.
On December 8, Volkswagen announced three battery partners, which have established partnerships with Umicore, 24M Technologies, and Vulcan Energy Resources Ltd to promote the vertical integration of the battery value chain, with a total price of 34 billion U.S. dollars.
Among them, the Belgian chemical company Umicore will form a joint venture with Volkswagen to provide raw materials for lithium battery anode materials.
“For lithium batteries, Volkswagen will continue and quickly promote related strategies.” Thomas Schmall, a member of the Volkswagen board of directors, said that cooperation with Umicore will allow Volkswagen to have the most advanced lithium battery supply chain in Europe.
Regarding the expansion of Volkswagen’s battery business, Diss predicts that this part is expected to achieve sales of 20 billion euros in 2030.
