German car giant Volkswagen priced the public offering of preferred stock in its luxury brand Porsche between €76.50 and €82.50 which was largely in line with investor expectations. Shares in Porsche AG POAHY are set to begin trading Sept. 29. It will be one of the largest recent European public listings in years, raising up to $9.4 billion and valuing the iconic carmaker as high as $78 billion. The deal will put Porsche shares in public hands for the first … Continue reading “Porsche IPO Priced at $78 Billion, Will Finance VW Electric Car Transformation”
VW Closing the Gap on Tesla in The Great EV Race
Volkswagen has been quietly moving along closing the gap with Tesla as the leading maker of electric cars. VW is in a solid place behind Tesla on EVs and making progress on battery production, charging infrastructure and software, Chief Executive Officer Herbert Diess said Wednesday at a tech conference in Berlin. In Europe we have already seen Tesla go from number one at 33% EV market share in 1919 to just 10% market share and 5th place. However, VW had a 47% EV … Continue reading “VW Closing the Gap on Tesla in The Great EV Race”