Varta to outsource EV battery business with partner
German Varta wants to form a new unit for the production of batteries for electric transport applications with a partner. So far, Varta has been only active in R&D. Talks are underway with large automotive companies.
Varta AG is looking to set up a new business to produce EV batteries together with a partner, according to a report by Austrian Trend.
Michael Tojner, CEO of Montana Tech, that owns part of Varta, told the magazine that he is looking to outsource production in order to hook up with a powerful partners. Discussions have involved BMW, VW, and supplier Magna and Trend’s sources named the latter as the most likely partner.
At Varta, large batteries as opposed to its expertise in making micro batteries for electronic devices, are not turning any profit and the firm concentrates its effort on research and development so far.
Also, this summer marks the end of a 7-year cooperation with Volkswagen. While the option to carry on is still on the table, Magna had come into the game due to its strong electric mobility focus.
trend.at (in German)