German company Webasto has confirmed reports initially published by the German Handelsblatt regarding the sale of a majority stake in its charging solutions business. The purchase price for this transaction amounts to 250 million euros, although this information stems from “financial circles” rather than the involved parties themselves.
According to Handelsblatt, Webasto’s charging cables, mobile charging stations, and wallboxes generated sales of 92 million euros, but also incurred an operating loss of 82 million euros. Investment bank Jefferies reportedly sought a buyer for almost two years before finalizing this partial sale, which will enable Webasto to refocus on its core business areas. Notably, the move is not anticipated to lead to any job redundancies.
The charging division currently employs 90 individuals in Planegg near Munich and another 170 in Monrovia, California. Webasto has clarified that the sites in Planegg, Monrovia, and Guanajuato, Mexico, will be retained by the charging business post-sale.
Marcel Bartling, Webasto’s Chief Technology Officer, expressed satisfaction with the partnership, emphasizing continuity for the charging solutions business and ongoing development opportunities for its employees. Bartling stated, “This move allows Webasto to concentrate on its core business areas.”
Webasto had previously announced its search for partners for the division in mid-2022, citing the need for additional support to fully realize the division’s potential. Despite the sale of a majority stake, the company affirms its commitment to supplying the EV market with battery systems.
While the charging solutions business holds promise for growth, Webasto recognizes the necessity of dedicated sales channels for its products, which are primarily targeted at private and corporate customers. In contrast, Webasto’s core products, including sunroofs and parking heaters, are directly sold to car manufacturers.
