|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||27.70 - 30.00|
|52 Week Range||18.56 - 48.72|
|Beta (5Y Monthly)||1.47|
|PE Ratio (TTM)||7.39|
|Forward Dividend & Yield||0.56 (1.98%)|
|Ex-Dividend Date||Jul 23, 2021|
|1y Target Est||34.49|
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Volkswagen is considering listing its Porsche luxury car unit to help fund its ambitious plan to switch to electric vehicles, according to several media reports. Porsche AG the maker of the eponymous cars of the same name, could have a market capitalization of between €45 billion and €90 billion ($101 billion), according to Reuters and other reports. The Piech and Porsche families who own 31.4% of Volkswagen (ticker XE:VOW) and 53.3% of its voting rights through their holding company Porsche SE would sell part of their stake in Volkswagen to funds a direct shareholding of the luxury car maker, the daily Handelsblatt reported.
Volkswagen on Wednesday announced key partnerships to secure raw materials Europe's largest carmaker needs to realise its ambitious electric vehicle strategy, eager to close a gap with rival Tesla . At the core of the three agreements, which are part of VW's 30 billion euro ($34 billion) plan to build battery plants and procure materials, lies a planned joint venture with Belgian chemicals and recycling company Umicore. The venture aims to supply cathode materials to Volkswagen's European battery cell factories, which it plans to build by 2030.
(Bloomberg) -- In March, Herbert Diess enthralled investors with his vision for turning Volkswagen AG into the global leader in electric cars. VW would deliver 1 million battery-powered and plug-in hybrid vehicles this year, and soon build half a dozen factories in Europe alone, the chief executive officer proclaimed. The stock shot up by 29% on a single day.Most Read from BloombergThe World’s Relentless Demand for Chips Turns Deadly in MalaysiaSand and Soldiers Mix as Troops Move In to Protect