Saturday, July 13, 2024

Webasto withdraws from the charging infrastructure business – electrive.com

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This was first eported by the German Handelsblatt. Webasto has since confirmed the information. The purchase price for the majority of the charging solutions business amounts to 250 million euros. However, that information comes from “financial circles” and not the two transaction partners.

According to Handelsblatt, Webasto’s range of charging cables, mobile charging stations, and wallboxes recently generated sales of 92 million euros and an operating loss of 82 million euros. The investment bank Jefferies has apparently been looking for a buyer for almost two years. The partial sale that has now been finalised will allow Webasto to focus on its core business areas. The move will not result in any redundancies. According to the business newspaper, 90 people work for the charging division in Planegg near Munich, and another 170 people work in Monrovia, California. “The sites in Planegg (Germany), Monrovia (USA) and Guanajuato (Mexico) will be retained by the charging business after the sale,” the company writes in its press release.

“I am pleased that we have gained a partner that will continue the success story of our Charging solutions business while continuing to offer development opportunities to the many highly qualified colleagues who are part of the business,” said Webasto Chief Technology Officer Marcel Bartling. “At the same time, this move allows Webasto to concentrate on its core business areas.”

Webasto already confirmed in mid-2022 that it was looking for partners for the division. A spokesperson told electrive then that the company was in ongoing talks with banks and potential partners to finance new projects or expand its traditional core business. “We see at our company that the full potential cannot be exploited at the moment. We have therefore decided to look for a partner to support the positive development of the charging division.” As early as 2022, Handelsblatt reported that the supplier had no plans to sell its charging division completely.

Although the business with wallboxes, mobile charging solutions and charging cables for private and corporate customers promises growth, production alone is not enough. Webasto needs its own sales channels for charging products, as these products are purchased by private customers (sometimes via intermediaries). Webasto’s main products, such as sunroofs, parking heaters and battery solutions, are sold directly to car manufacturers. Speaking of which, Webasto continues to supply the EV market with battery systems.

handelsblatt.com (in German), webasto.com

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