Hyperdrive
Porsche Seeks Partners for $3.3 Billion EV Battery Plant
- Luxury-car maker mulls sites near Germany, the US, Canada
- Location will depend on competitive energy prices, CFO says
Deliveries the Taycan declined 5% in the first half on lower parts availability.
Photographer: Alex Kraus/BloombergThis article is for subscribers only.
Porsche AG is talking to potential financial and strategic partners to set up an electric-vehicle battery factory that could cost as much as €3 billion ($3.3 billion).
The luxury-car maker is considering locations close to Germany, the US and Canada and will base its decision mainly on where electricity prices are competitive and renewable energy is available, it said Wednesday. The plant will have a capacity of as much as 20 gigawatt-hours.