Porsche acquires V4Drive from German VARTA Group

Porsche officially announced that it has acquired V4Drive, a subsidiary of the German Varta Group, and renamed the company V4Smart. Porsche has become the majority shareholder of the new company. Porsche and Varta plan to integrate their expertise in the development and production of high-performance cylindrical batteries. Porsche has launched mass production of V4Smart brand batteries, and the new Nordlingen plant will start producing cylindrical batteries from April, which will be used in the new 911 GTS model.