Varta will soon be getting into the electric car

The entry into electromobility was not an issue for a long time. There are now plans for a pilot plant. Investors are thrilled.

Varta Work in Ellwangen

Dhe success story of battery specialist Varta in recent years has been based primarily on tiny lithium-ion cells that have made wireless headphones a convenience product. Now the company is targeting a business area that is at least as dynamic: electromobility.

There are still plans – and a name: the new cell will be called V4Drive, Varta announced: “In the future, it could be used in new and optimized drive concepts, primarily for vehicles in the premium segment.” Varta in Ellwangen in northern Baden-Wuerttemberg will start a pilot line. The cell in the 21,700 format – i.e. 7 centimeters high and 2.1 centimeters in diameter – is in principle also intended for use in power tools.

Details not yet known

Varta has already had plans in this sector in the past, which were obviously modified in the course of the electric offensive of various car manufacturers. The most active is the Volkswagen Group, which announced on Monday that it would start production itself and build six factories for battery cells by 2030.

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To the detailed view

It is not yet known in which dimensions Varta is making plans. With the announcement, the company only confirmed a report by “Wirtschaftswoche”, which also spoke of ongoing discussions with several car manufacturers. This in turn was not commented on by Varta. Varta CEO Herbert Schein is only quoted in the announcement with the statement that the development of the new lithium-ion cells went extremely well: “The results exceeded our expectations.” Details will only be announced at a later point in time.

However, that was information enough for investors. After the announcement was published, the share price rose by more than 11 percent to a value of EUR 124.70. This means that the price listed in the M-Dax is still far from the high of 181.30 euros that Varta had reached at the end of January.