Porsche share gains: is Porsche now coming after Tesla? New major investment in southern Brandenburg possible – DZ Bank lowers fair value for Porsche SE

After the Tesla settlement, the next major investment may be in the offing in Brandenburg.

According to dpa information, the car manufacturer Porsche is examining the construction of a battery factory on the site of the Schwarzheide/Schipkau airfield in the Oberspreewald-Lausitz district. First, the “Lausitzer Rundschau” and the “BZ” reported about it.

The Economics Ministry in Potsdam said: “In fact, as usual, we cannot comment on any settlement projects and ask for your understanding that discussions must remain confidential.” The Economic Development Agency (WFBB), contact persons for investors, local companies and technology-oriented start-ups in the state did not want to say anything about it either. “Basically, we do not comment on potential settlements,” said WFBB spokesman Alexander Gallrein.

According to Porsche, a Cellforce Group gigafactory in Kirchentellinsfurt with 1.3 gigawatt hours is currently under construction, and the completion date is announced for mid-2024. “Together with the Cellforce Group, Porsche AG is also examining a potential scaling up to over 20 gigawatt hours at a second location. The decision on this should be made by the end of 2023,” the company said on request.

The Schwarzheie/Schipkau airfield is to be converted into an industrial area in the coming years.

The BASF plant, where modern battery components are prefabricated, is in the immediate vicinity. The chemical giant has been working with Porsche since 2021. An air separation plant from the French company Air Liquide went into operation at BASF on Monday. Among other things, the plant will produce liquid products for air liquid customers in the automotive, food, metal and semiconductor industries.

DZ Bank lowers fair value for Porsche SE

DZ Bank has lowered the fair value for Porsche SE from 65 to 60 euros, but left the rating at “Buy”. Analyst Michael Punzet wrote in a study published on Tuesday that the valuation of the holding company’s stock continues to show a significant discount compared to the value of its two core holdings, VW and Porsche AG. Although he considers this discount to be too high, he sees no price drivers that could change this in the short term. In the medium term, however, a reduction in the discount is likely.

In XETRA trading, the Porsche share temporarily rose by 0.43 percent to 48.90 euros.

SCHIPKAU/COTTBUS/FRANKFURT (dpa-AFX)

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