BERLIN (Reuters) – Volkswagen said it was sticking to its financing timeline for battery unit PowerCo of preparing for a strategic investor this year, after Bloomberg reported that it was pushing back its plans, citing people familiar with the matter.
“The interest we see from investors remains high.
An IPO is a tangible option in the future,” Volkswagen said in a statement, repeating its previous position on the matter.
A spokesperson for PowerCo denied that timings had changed, adding in a written statement that the battery unit’s production was still scheduled to start in 2025.
(Reporting by Victoria Waldersee; Editing by Madeline Chambers)
