Sports car maker Porsche wants to invest directly in Varda to prop up the ailing German battery maker, owned by Austrian investor Michael Dojner. “Frankfurter Allgemeine Zeitung” reported on Sunday, citing banking sources, that Varta plans not only to acquire a majority stake in V4Drive, the electric car battery unit, but also to buy a minority stake in Varta AG.
Porsche intends to subscribe to a capital increase. “With this minority stake, Porsche is protecting the process of outsourcing V4Drive production to the troubled Varda Group,” the report said. Varda initially did not want to comment on the matter. In early July, it was known that Porsche was ready to acquire a majority stake in V4Drive.
