Porsche Plans Majority Takeover of EV Battery Developer V4Drive Battery GmbH

Porsche is planning to acquire a majority stake in the EV battery developer V4Drive Battery GmbH. Varta AG pools its business with large-format lithium-ion round cells in V4Drive.

The cells are used in the performance hybrid drive of the Porsche 911 Carrera GTS.

The construction of a new production facility for booster cells in Nördlingen, in Germany, which was announced in spring 2024 and backed by Porsche, will continue as planned.

The facility is scheduled to go into operation in 2025.

It is planned that V4Drive will also address further customers beyond Porsche.

Varta AG is planning to remain on board as a minority shareholder in V4Drive.

Porsche and partners have expressed their willingness to participate in the planned financial reorganisation of Varta AG – as part of the restructuring process.

Porsche’s investment would amount to 30 million euros and would directly benefit Varta AG.

Lutz Meschke, Deputy Chairman of the Executive Board and Member of the Executive Board for Finance and IT at Porsche AG. says: "Varta and Porsche are already working closely together on the topic of high-performance battery cells. With the planned majority takeover of V4Drive, we aim to drive the company forward and would make an important contribution to keeping key technologies in Germany.”

The completion of the majority takeover of V4Drive by Porsche is subject to antitrust approvals in various countries and the successful implementation of the financial restructuring of Varta AG.