Volkswagen's Battery Unit to Seek External Financing Amid Budget Cuts, Bloomberg Says, Citing Company

Dow Jones12-17 17:07

--Volkswagen's battery business is having to seek external financing after the automaker cut its five-year spending plan, Bloomberg reports, citing the CEO of the battery unit.

--Third-party funding is an option being looked at more closely, including bank loans, external investors and a potential public offering, PowerCo Chief Executive Frank Blome said, according to Bloomberg.

--PowerCo isn't planning to halt construction at its three plants in Germany, Spain and Canada, but midterm financing is needed, even though less investment is required given the slower-than-expected uptake of electric vehicles, Blome said, according to Bloomberg.

Full story: https://tinyurl.com/mr4xvcb8

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

December 17, 2025 04:07 ET (09:07 GMT)

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