Investing
Varta seals auto battery investment from Porsche
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GDANSK (Reuters) – Struggling German battery maker Varta said luxury car maker Porsche AG would
GDANSK (Reuters) – Struggling German battery maker Varta said luxury car maker Porsche AG would invest in its business unit for large-format lithium-ion cells through a majority stake in its automotive battery unit V4Drive.
In order to implement the investment, a capital increase will be carried out at V4Drive Battery GmbH,” Varta said.
The deal is expected to close in the first quarter of next year pending regulatory approvals.
(Reporting by Andrey Sychev, editing by Kirsti Knolle)
A lithium-ion battery is a type of rechargeable battery commonly used in portable electronics and electric vehicles, known for its high energy density and low self-discharge rate.
A capital increase refers to the process of raising additional capital for a company, typically by issuing new shares to investors, which can help fund expansion or operations.
A majority stake is when an individual or entity owns more than 50% of a company's shares, giving them significant control over business decisions and operations.
An investment is the allocation of resources, usually money, in order to generate income or profit, often involving the purchase of assets such as stocks, bonds, or real estate.
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