Porsche and Varta in talks to invest in electric car batteries

Porsche is in in-depth discussions with Varta about its potential investment in the field of electric vehicle batteries. It is reported that Porsche intends to acquire a majority stake in V4Drive Battery GmbH, a wholly-owned subsidiary of Varta. The two parties have signed a non-binding list of terms and are preparing relevant documents for the transaction. Since its establishment in 2021, Varta's V4Drive division has been committed to the development and production of large-size lithium-ion batteries for electric vehicles. Varta, headquartered in Ellwangen, has successfully produced 21,700 round batteries.