Volkswagen eyes separate stock market listing for Porsche

FRANKFURT: German auto giant Volkswagen on Tuesday said it was drawing up plans to list its luxury brand Porsche as it looks to raise the funds for its move to electric vehicles.

The flotation would represent a major shake up at Volkswagen, which is searching for a ways to finance its shift away from traditional combustion engines towards electric vehicles. Shares in both the carmaker and the holding company jumped on the news. Volkswagen shares were up almost nine percent to 190 euros around 1330 GMT, while the holding group's stock rose by over 12 per cent.Analysts value Porsche, maker of the famous 911 sports car, at between 60 and 80 billion euros.

The Volkswagen group - whose 12 brands include Audi, Porsche and Skoda - is pumping 35 billion euros into the shift to electric vehicles and aims to become the world's largest electric carmaker by 2025.

Is that legal

Indonesia Berita Terbaru, Indonesia Berita utama

Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.

Chinese beauty brands woo Southeast Asian customers on TikTok and Shopee as saturated home market stagnatesA growing number of Chinese beauty brands are looking to woo overseas consumers in less competitive markets amid weakened domestic consumption. Over the last two years, Chinese cosmetics companies that sell online have been eyeing neighbouring markets like Japan and Southeast Asia for expansion before trying their luck in more competitive Western markets. In addition to dozens of smaller players...
Sumber: asiaonecom - 🏆 10. / 59 Baca lebih lajut »