Porsche4 Apr 2023 23:01
Here is one ABB link up that could turn into something material for AFC from numerous directions. It also might possibly explain why the 100kW S+ was tested independently by IAV rather than at ABB's EV factory in Italy.
1 February 2023.
"Porsche Automobil Holding SE (“Porsche SE”), Stuttgart, has invested a double-digit million euro amount in ABB E-mobility Holding AG, Baden, Switzerland, in a private placement."
https://www.porsche-se.com/en/news/press-releases/details/news/detail/News/porsche-se-beteiligt-sich-an-abb-e-mobility
Porsche would certainly be made aware of the AFC Fuel Cell deal as part of the prospectus and quite likely a presentation from ABB E-Mobility to Porsche, and examined in detail during due diligence by Porsche prior to their investment (as would all investments by ABB E-Mobility). This would be the case because ABB E-Mobility already owned shares in AFC prior to Porsche investing in ABB.
16 April 2021
"a subscription of 5,038,760 New Ordinary Shares by the ABB group"
https://www.investegate.co.uk/afc-energy-plc/rns/result-of-fundraising/202104160857137231V/
This of course is not 'just' Porsche we are talking about:
"Porsche Automobil Holding SE, usually shortened to Porsche SE is a German multinational corporation primarily known as a holding company of Volkswagen Group with investments in the automotive industry."
"As of 2019, the 31.3% stake in Volkswagen AG is the predominant investment by Porsche SE, and Volkswagen AG in turn controls brands and companies such as Volkswagen, Audi, SEAT, Škoda, Bentley, Bugatti, Lamborghini, Porsche AG, Ducati, VW Commercial Vehicles, Scania, MAN, as well as Volkswagen Financial Services.
Dr. Ing. h.c. F. Porsche AG, as a 100% subsidiary of Volkswagen AG, is responsible for the actual production and manufacture of the Porsche automobile line."
https://en.wikipedia.org/wiki/Porsche_SE
And, of course, as I posted a few days ago, VW AG is a 50% owner of IAV, with VW also the biggest IAV key client, Porsche and the other brands are listed as clients of IAV. VW HQ is at Wolfsburg, 18km from the IAV Fuel Cell Test Bench at Gifhorn.
https://www.iav.com/en/company/clients-partnerships/
https://en.wikipedia.org/wiki/IAV_GmbH
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