Volkswagen has doubts about the PowerCo hypo, the electric sector is cooling. Volkswagen would no longer make a stake sale or potential IPO of PowerCo's assets a priority this year or next.
The situation remains fluid and VW could still go ahead with plans if the market improves. IPOs had their worst year in more than a decade in 2023 as interest rates soared. The Wolfsburg group is reportedly postponing plans to seek external investors for its battery unit in a cooling electric vehicle market.