Volkswagen could publicly list its energy and charging division following the successful IPO of Porsche last year.
The German car manufacturer is said to be preparing public listings of all of its unlisted brands, including battery business PowerCo, as part of a training program ordered by chief executive Oliver Blume. It is understood that the results of these ‘mock’ listings will be presented internally later this week before being shown to investors at a capital markets day later in the year.
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Speaking with Reuters, the chief executive of VW’s energy and charging division, Elke Temme, revealed his belief that EVs could help to stabilize the large price swings in the electricity market by acting as temporary storage for the overcapacity of green electricity on the grid. However, Temme noted that regulators would first need to create a framework to make this possible.
Temme is in charge of bundling VW’s power activities, including its procurement of energy, enabling customers to charge their EVs at home and on the road, and selling all of the electricity required.
Reports state that the plan is to secure the long-term structure of the business.
Porsche went public in October last year for €82.50 a share. The listing saw the Volkswagen Group sell 12.5 percent of the company’s non-voting shares in order to raise some €9.4 billion. Funds secured through the listing will help to accelerate the VW Group’s electrification plans.
