Volkswagen’s Battery Business Faces Supply-Chain Jolt With IPO Plans on Horizon: Report

The logo of German car maker Volkswagen at the company's "Die Gläserne Manufaktur" (The transparent factory) in Dresden, eastern Germany, on Sept. 11, 2020. Jens Schlueter/AFP via Getty Images

German automaker Volkswagen AG’s PowerCo global battery manufacturing business, which it plans to plan to spin-off in an initial public offering in 2023, is facing the impact of supply chain challenges, Bloomberg reported.

PowerCo is scouting sources for securing raw materials for the plant amid rising input prices and logistical challenges, the report said, citing Kai Alexander Mueller,  CFO of the unit.