VW is seeking to rival Tesla in the EV game by investing more than any other legacy carmaker in the United States. In the interest of generating the cash needed, VW said they are in advanced talks that could lead to the initial public offering of the iconic Porsche AG sports-car maker.
The news saw VW shares jump as much as 10% and close the day 7% higher than they started despite most of the market drooping with news of the Russia/Ukraine conflict.
Telling it like it is - Have you ever wanted to own a Porsche? Well how about a piece of the company that makes them?