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Pieces of Porsche hit the marketINTL

Pieces of Porsche hit the market

German carmaker Volkswagen is thinking about listing a rather good chunk of its popular sports car brand Porsche.

Volkswagen AG (VOW.DE) could make up to 25% of Porsche AG’s shares public as the company ramps up its efforts to raise funding that will in turn be injected into new technology and electric vehicles.

Not so fast, though – sources say that talks are still in primary stages and that the potential listing might not even take place this year. Still, investors seemed to be quite excited about the prospect, as Volkswagen’s shares trading on the Frankfurt stock exchange were up almost 4%, while their US-listed shares jumped nearly 3%.

why it matters
Volkswagen and fellow conventional automakers are gearing up in the electric vehicle space to race against rivals such as Tesla (TSLA). Just last week, we reported that British luxury carmaker Jaguar announced its plans to go fully electric by 2025.