reporter2
07-10-21, 17:36
The battery manufacturer Varta wants to start building large lithium-ion cells of the "V4Drive" type for electric cars.
07.10.2021
FRANKFURT - "Varta has gained experience in the production of small lithium-ion cells," said CFO Armin Hessenberger at the company's capital market day. "We are now transferring this know-how to the production of larger, rechargeable lithium-ion cells."
The Varta round cells offer "excellent alternatives for building battery-electric vehicles in the performance area," said CEO Herbert Schein. The extent to which the company starts producing V4Drive will be decided based on customer demand.
The pilot production of the V4Drive cells in the 21700 format is to start at the end of the year, the mass production two years later. Varta is aiming for a production capacity of at least 2 gigawatt hours.
Varta shares have rallied after heavy losses since August
On Thursday, the shares of Varta moved away from the chart support at 110 euros in a more stable market environment. The battery manufacturer's shares gained almost 6 percent to 117.25 euros. Before that, however, they had fallen by a third since mid-August after disappointing half-year growth.
Stifel analyst Florian Pfeilschifter classified the day before the capital market as a "non-event". Varta has summarized the news situation nicely, but offered little new to business experts. However, the negative course reaction to the lack of impulses feared by Pfeilschifter has not yet materialized. The expert is one of the skeptics with his "sell" rating and signals a clear risk of setbacks with his target price of EUR 97.
07.10.2021
FRANKFURT - "Varta has gained experience in the production of small lithium-ion cells," said CFO Armin Hessenberger at the company's capital market day. "We are now transferring this know-how to the production of larger, rechargeable lithium-ion cells."
The Varta round cells offer "excellent alternatives for building battery-electric vehicles in the performance area," said CEO Herbert Schein. The extent to which the company starts producing V4Drive will be decided based on customer demand.
The pilot production of the V4Drive cells in the 21700 format is to start at the end of the year, the mass production two years later. Varta is aiming for a production capacity of at least 2 gigawatt hours.
Varta shares have rallied after heavy losses since August
On Thursday, the shares of Varta moved away from the chart support at 110 euros in a more stable market environment. The battery manufacturer's shares gained almost 6 percent to 117.25 euros. Before that, however, they had fallen by a third since mid-August after disappointing half-year growth.
Stifel analyst Florian Pfeilschifter classified the day before the capital market as a "non-event". Varta has summarized the news situation nicely, but offered little new to business experts. However, the negative course reaction to the lack of impulses feared by Pfeilschifter has not yet materialized. The expert is one of the skeptics with his "sell" rating and signals a clear risk of setbacks with his target price of EUR 97.