Advertisement
Canada markets closed

  • S&P/TSX

    21,708.44
    +52.39 (+0.24%)
     

  • S&P 500

    5,011.12
    -11.09 (-0.22%)
     

  • DOW

    37,775.38
    +22.07 (+0.06%)
     

  • CAD/USD

    0.7252
    -0.0012 (-0.16%)
     

  • CRUDE OIL

    86.05
    +3.32 (+4.01%)
     

  • Bitcoin CAD

    84,508.25
    -724.76 (-0.85%)
     

  • CMC Crypto 200

    1,239.92
    +354.39 (+37.03%)
     

  • GOLD FUTURES

    2,420.80
    +22.80 (+0.95%)
     

  • RUSSELL 2000

    1,942.96
    -4.99 (-0.26%)
     

  • 10-Yr Bond

    4.6470
    +0.0620 (+1.35%)
     

  • NASDAQ futures

    17,260.75
    -286.50 (-1.63%)
     

  • VOLATILITY

    18.00
    -0.21 (-1.15%)
     

  • FTSE

    7,877.05
    +29.06 (+0.37%)
     

  • NIKKEI 225

    36,818.81
    -1,260.89 (-3.31%)
     

  • CAD/EUR

    0.6824
    +0.0003 (+0.04%)
     

Volkswagen CFO: no surprise if PowerCo finds strategic investor by 2024

Reuters
·1 min read

MUNICH, May 17 (Reuters) - Volkswagen Chief Financial Officer Arno Antlitz said on Wednesday a strategic investor could be found for the automaker's battery business PowerCo by 2024, with a potential listing to come later.

Onlookers "shouldn't be surprised if in 2024 there might be a first step taken with a strategic investor," Antlitz said, speaking at the Reuters Automotive Conference in Munich.

Reuters reported last November the group was holding discussions with investors to join its battery division, but plans were not yet concrete.

On the day of the listing of luxury carmaker Porsche in September, Antlitz had said Volkswagen was considering forming strategic partnerships in the next one to two years as a step towards a possible listing of its PowerCo batteries operation.

"There is a lot of interest," Antlitz said on Wednesday. "We have to decide how long we want to keep it on our books." (Reporting by Victoria Waldersee, Joseph White; editing by Bartosz Dabrowski)