Volkswagen rules out listing battery unit till 2026: Report

This mainly rules out the possibility of a public listing before 2026, the newswire noted.

Schmall’s comments offer the best indication so far for when Europe’s top carmaker may take PowerCo Battery public, as a follow up to bringing in an outside investor or entering strategic partnerships with other cell manufacturers, the newswire noted.

“In a second step, an IPO remains an option for the future. However, this will only become an issue once factories are up and running and the standardised cell is in use, he told Reuters.

Volkswagen spun off its battery unit two years ago, pumping in 20 billion euros with partners to manufacture plants reaching 240 gigawatt hours of capacity by 2030. The company hoped this strategic move would offer the firm greater control of its supply chain and help narrow the gap with Tesla, the newswire reported.

The unit has to date announced battery cell factories in Salzigitter, Ontario Valencia and Ontario, which will open in 2025, 2026 and 2027 respectively, the newswire reported.