Porsche has taken over the majority at Varta’s Autokatter Daughter Society V4Drive Battery. The subsidiary of Volkswagen now has 70 percent of the shares, as the car manufacturer in Stuttgart has announced. Varta, the financially battered battery group of the Austrian investor Michael Tojner and Porsche, remains involved in 30 percent.
The acquisition was already announced on March 1 and is part of the rescue plan for the company on a medium -sized company, which must currently reorganize. Porsche is investing 30 million euros.
In the future, the company will be called V4Smart and the new customer groups wants to open for ultra-high Lithium-ion round cells. The cells are currently coming as booster cells in the 911 GTS models for Porsche for Series.
Porsche supports Varta in renovation
The production of the booster cells is currently taking place at the Ellwangen location. From April it is expected that the round cells will also be manufactured at a new facility at the Nördlingen location, as Porsche continued. Towards the end of 2025, the joint venture is planning to build around 375 jobs on both production sites and to take over many employees from the Varta Group.
Porsche confirmed the intention to also want to go to Varta to support the company in the renovation. In the course of the restructuring, the plan provides for a reduction of share capital to zero. For the free shareholders, this means the full loss of their money. Then the capital is raised again. That had resulted in violent criticism. The Varta renovation runs as part of the German Restructuring Act Starug, which should save crisis companies in bankruptcy procedure.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
