Overview

• Porsche confirmed it will halt plans to make high-performance battery cells at Cellforce and will spin it into an independent research and development unit.
• An estimated 200 of nearly 300 roles at Cellforce are expected to be affected, according to a person familiar with the matter, though the company declined to detail cuts.
• Some positions could be transferred to Volkswagen’s PowerCo, and Porsche said Cellforce expertise would support V4Smart, the battery business acquired from Varta earlier this year.
• CEO Oliver Blume cited limited volumes and a lack of economies of scale for ending in-house cell production, with R&D chief Michael Steiner noting the cost target cannot be met at current global volumes.
• Porsche had planned a start-up factory in Baden-Wuerttemberg followed by a larger site, and the reversal adds to Europe’s battery-supply setbacks following Northvolt’s collapse.