When my two colleagues Margret Hucko and Michael Freitag recently spoke to executives from the Volkswagen Group for research, they reported on a memorable round. A management consultant was connected to an internal video conference, who shook the VW people with his radical views on the transformation of the carmaker. Since then it was clear to us: we should speak to the man. Et voila: You can read the interview with Engelbert Wimmer here.
Knorr-Bremse patriarch Heinz Hermann Thiele left a great life’s work and one of the largest fortunes ever inherited in Germany. Although a will was opened shortly after his death a year ago, the estate is to be incorporated into a family foundation. But since then everyone has been waiting. My colleagues Angela Maier and Michael Freitag have researched how to proceed. You describe an industrial group that lacks center and speed – because a handful of people pursued their own interests.
The Volkswagen Group is considering the partial sale of its crown jewel. If all goes well, Porsche AG will go public. The mega-IPO would flush the company billions into the coffers – and through a clever construction, the owner families Porsche and Piëch would regain power over their favorite brand. My colleague Michael Freitag describes the spectacular details of the manoeuvre (and also the initial irritation of the surprised Qatari shareholders).
The car business in Russia has been so bad lately that Porsche’s Russia boss Thomas Stärtzel saw “no signs of a quick improvement”. Now war is threatening and with it sanctions that could also affect the factories of the car companies. Market leader Renault is preparing with its joint venture Avtovas already prepared for emergencies.
Car brand collector Li Shufu (58) – a kind of Chinese mini-piëch – seems to want to list just about everything from his Geely empire that investors pay money for (see Volvo or Polestar). Insofar as it was consistent that it also marked the capital market debut of the late sports car brand Lotus play through. Li Shufu wants to rebuild them, Lotus just celebrated for 1710 cars sold last year. Maybe the investor money will help.
The Swedish start-up Volta, which builds chassis for electric delivery vehicles (optimized with a centrally positioned driver’s seat, for example), receives fresh capital: 230 million euros. That’s good, but will probably only be sufficient to a limited extent when series production of the first 16-ton model begins at the end of the year.
Deep Drive: Study of the week
Many electric cars need many battery cells. The engineering associations VDI and VDE analyzed the situation in the fourth quarter of 2022 in their market overview. Result: The cell production planned in Europe will cover the demand, but a considerable shortage of raw materials is to be expected. And a graphically prepared overview of the European projects there is also.
US superstar LeBron James (37) advertises the new electric Hummer. In addition to Missy Elliott’s awesome music, the spot focuses on one feature above all: The Lobster’s Crab Walk. The SUV has been delivered since December 2021 – but if you still want to fish for one, you’re too late: sold out. crap!
I wish you an eventful week!
Sincerely yours, Lukas Heiny