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HAMBURG (Reuters) – Volkswagen (VOWG_p.DE)’s energy and charging division is open to all options for the long-term structure of its business, including a possible public listing, the head of the division said. Elke Teme said in an interview with Reuters.
The division, like all the automaker’s privately held brands and its battery business PowerCo, was created by CEO Oliver Blume after the automaker took the sports car brand Porsche (P911_p.DE) public last year. We are preparing for listing as a training exercise that has been started.
The results of these exercises, which Volkswagen calls a “virtual equity story,” will be announced internally on Thursday, a source who declined to give his name told Reuters.
Temme, a former RWE executive who has led the automaker’s energy business, said electric vehicles could stabilize large price volatility in the electricity market by acting as a temporary reservoir for excess green power capacity on the grid. said that it could be useful for This is known as bi-directional charging.
But first, regulators had to create a framework to make this economically viable. “It won’t take him more than five years,” Temme predicted, adding that Volkswagen’s electric vehicles on the MEB platform are equipped with this feature.
Appointed in January 2021, Temme is tasked with orchestrating the carmaker’s various power activities, including sourcing energy, enabling customers to charge their cars at home or on the road, and sell the electricity they need. .
Volkswagen leads the world’s legacy car makers by far in its plans to invest in EVs and batteries by 2030, and plans to spend €35 billion on battery EVs by 2025, according to a Reuters analysis. planning.
“Cars will become part of the energy system,” Teme said on Monday. “The energy industry and the automotive market are becoming more closely linked.”
Reported by Jan Schwartz, written by Victoria Waldersee, edited by Rachel More, Kirsten Donovan
Our Standards: Thomson Reuters Trust Principles.
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