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Volkswagen’s battery arm PowerCo won’t IPO until all factories are open

Credit: Volkswagen

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Volkswagen isn’t planning to list its battery startup PowerCo on the stock market until all of its factories are operational and its batteries are in use, according to a recent statement from a chairperson at the company.

Thomas Schmall, Chairman of the Supervisory Board of PowerCo and Volkswagen AG Board Member, told Reuters that the Volkswagen subsidiary wouldn’t consider an Initial Public Offering (IPO) until all of the company’s factories are open and it’s utilizing its unified battery cells in vehicles. The statement means that Volkswagen’s battery arm won’t go public for at least a few years under its current factory plans.

“In a second step, an IPO remains an option for the future,” Schmall said. “However, this will only become an issue once the factories are up and running and the standardised cell is in use.”

Volkswagen EV deliveries increase by 45% since January 2023

PowerCo plans to use its unified battery cell, a single cell design in three separate battery chemistry offerings, in 80 percent of its EVs starting in 2025. The Volkswagen subsidiary will produce the cells at its factory in Salzgitter, Germany, along with future plants in Valencia, Spain, and St. Thomas, in Ontario, Canada — expected to open in 2025, 2026 and 2027, respectively.

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With these three factories, the company is aiming for a battery cell production capacity of 240 GWh per year by 2030, and it’s targeting 20 billion euros (~$21.7 billion) in sales by the same year. Under these plans, the Volkswagen battery unit likely wouldn’t be able to reach the aforementioned conditions for an IPO until at least 2026, or more likely 2027, once its third plant has opened.

In the past, PowerCo has avoided talks of a potential IPO, though it previously planned to make the business “investor-ready” by 2024. Last year was also the lowest level of IPO activity on the market since 2016, while some say EV sentiment has also dipped.

Schmall also told Reuters that PowerCo is no longer considering a second battery cell factory in Europe, at least not at the current time.

“At the moment this is not on the table from both a competitive and cost perspective,” Schmall said of the potential for an additional European plant.

Volkswagen launched PowerCo in 2022, in hopes to create a streamlined, in-house supply chain for electric vehicle (EV) batteries. The automaker also hopes the battery startup will help it compete with Tesla in the emerging EV market.

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In October, PowerCo also entered into a joint venture (JV) with Umicore called Ionway, which will produce cathode active materials (CAM) and pCAM in Brussels, Belgium. The venture expects to be able to produce 160 GWh per year of CAM and pCAM materials by 2030, which it says would be enough to support the production of 2.2 million battery-electric vehicles (BEVs).

What are your thoughts? Let me know at zach@teslarati.com, find me on X at @zacharyvisconti, or send your tips to us at tips@teslarati.com.

Zach is a renewable energy reporter who has been covering electric vehicles since 2020. He grew up in Fremont, California, and he currently lives in Colorado. His work has appeared in the Chicago Tribune, KRON4 San Francisco, FOX31 Denver, InsideEVs, CleanTechnica, and many other publications. When he isn't covering Tesla or other EV companies, you can find him writing and performing music, drinking a good cup of coffee, or hanging out with his cats, Banks and Freddie. Reach out at zach@teslarati.com, find him on X at @zacharyvisconti, or send us tips at tips@teslarati.com.

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Starlink Cellular’s T-Mobile service to grow with third-party app data

From Oct 2025, T-Satellite will enable third-party apps in dead zones! WhatsApp, X, AccuWeather + more coming soon.

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(Credit: T-Mobile)

Starlink Cellular’s T-Mobile service will expand with third-party app data support starting in October, enhancing connectivity in cellular dead zones.

T-Mobile’s T-Satellite, supported by Starlink, launches officially on July 23. Following its launch, T-Mobile’s Starlink Cellular service will enable data access for third-party apps like WhatsApp, X, Google, Apple, AccuWeather, and AllTrails on October 1, 2025.

T-Mobile’s Starlink Cellular is currently in free beta. T-Satellite will add MMS support for Android phones on July 23, with iPhone support to follow. MMS support allows users to send images and audio clips alongside texts. By October, T-Mobile will extend emergency texting to all mobile users with compatible phones, beyond just T-Mobile customers, building on its existing 911 texting capability. The carrier also provides developer tools to help app makers integrate their software with T-Satellite’s data service, with plans to grow the supported app list.

T-Mobile announced these updates during an event celebrating an Ookla award naming it the best U.S. phone network, a remarkable turnaround from its last-place ranking a decade ago.

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“We not only dream about going from worst to best, we actually do it. We’re a good two years ahead of Verizon and AT&T, and I believe that lead is going to grow,” said T-Mobile’s Chief Operating Officer Srini Gopalan.

T-Mobile unveiled two promotions for its Starlink Cellular services to attract new subscribers. A free DoorDash DashPass membership, valued at $10/month, will be included with popular plans like Experience Beyond and Experience More, offering reduced delivery and service fees. Meanwhile, the Easy Upgrade promotion targets Verizon customers by paying off their phone balances and providing flagship devices like the iPhone 16, Galaxy S25, or Pixel 9.

T-Mobile’s collaboration with SpaceX’s Starlink Cellular leverages orbiting satellites to deliver connectivity where traditional networks fail, particularly in remote areas. Supporting third-party apps underscores T-Mobile’s commitment to enhancing user experiences through innovative partnerships. As T-Satellite’s capabilities grow, including broader app integration and emergency access, T-Mobile is poised to strengthen its lead in the U.S. wireless market.

By combining Starlink’s satellite technology with strategic promotions, T-Mobile is redefining mobile connectivity. The upcoming third-party app data support and official T-Satellite launch mark a significant step toward seamless communication, positioning T-Mobile as a trailblazer in next-generation wireless services.

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Starlink expansion into Vietnam targets the healthcare sector

Starlink aims to deliver reliable internet to Vietnam’s remote clinics, enabling telehealth and data sharing.

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(Credit: Starlink)

SpaceX’s Starlink expansion into Vietnam targets its healthcare sector. Through Starlink, SpaceX seeks to drive digital transformation in Vietnam.  

On June 18, a SpaceX delegation met with Vietnam’s Ministry of Health (MoH) in Hanoi. SpaceX’s delegation was led by Andrew Matlock, Director of Enterprise Sales, and the discussions focused on enhancing connectivity for hospitals and clinics in Vietnam’s remote areas.

Deputy Minister of Health (MoH) Tran Van Thuan emphasized collaboration between SpaceX and Vietnam. Tran stated: “SpaceX should cooperate with the MoH to ensure all hospitals and clinics in remote areas are connected to the StarLink satellite system and share information, plans, and the issues discussed by members of the MoH. The ministry is also ready to provide information and send staff to work with the corporation.”

The MoH assigned its Department of Science, Technology, and Training to work with SpaceX. Starlink Vietnam will also receive support from Vietnam’s Department of International Cooperation. Starlink Vietnam’s agenda includes improving internet connectivity for remote healthcare facilities, developing digital infrastructure for health examinations and remote consultations, and enhancing operational systems.

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Vietnam’s health sector is prioritizing IT and digital transformation, focusing on electronic health records, data centers, and remote medical services. However, challenges persist in deploying IT solutions in remote regions, prompting Vietnam to seek partnerships like SpaceX’s.

SpaceX’s Starlink has a proven track record in healthcare. In Rwanda, its services supported 40 health centers, earning praise for improving operations. Similarly, Starlink enabled remote consultations at the UAE’s Emirati field hospital in Gaza, streamlining communication for complex medical cases. These successes highlight Starlink’s potential to transform Vietnam’s healthcare landscape.

On May 20, SpaceX met with Vietnam’s Ministry of Industry and Trade, announcing a $1.5 billion investment to provide broadband internet, particularly in remote, border, and island areas. The first phase includes building 10-15 ground stations across the country. This infrastructure will support Starlink’s healthcare initiatives by ensuring reliable connectivity.

Starlink’s expansion in Vietnam aligns with the country’s push for digital transformation, as outlined by the MoH. By leveraging its satellite internet expertise, SpaceX aims to bridge connectivity gaps, enabling advanced healthcare services in underserved regions. This collaboration could redefine Vietnam’s healthcare infrastructure, positioning Starlink as a key player in the nation’s digital future.

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Elon Musk commends Tesla team on successful Robotaxi launch

Tesla CEO Elon Musk commended the company on the successful launch of Robotaxi.

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NORAD and USNORTHCOM Public Affairs, Public domain, via Wikimedia Commons

Tesla CEO Elon Musk commented on the company’s launch of the Robotaxi platform, which officially went live to a small group on Sunday in Austin, Texas.

It is the first time Tesla has offered driverless rides through the ride-hailing platform it has worked to activate for several years, and it was overwhelmingly successful based on early reviews.

The launch was coupled with the release of the first-ever looks at the Tesla Robotaxi app, which does more than allow riders to summon vehicles for transportation. It also allows the rider to adjust climate settings in the car before it arrives for a comfortable ride, and it will sync entertainment and streaming settings to keep occupants entertained.

Tesla Robotaxi riders tout ‘smooth’ experience in first reviews of driverless service launch

The first rides are being performed with a safety monitor in the passenger’s seat. These monitors have no control over the vehicle, and are there just to ensure smooth operation.

The first reviews called rides “smooth” and “comfortable,” and commended Tesla for its hard work over the past few years to make this happen. Many were impressed with the cars’ ability to keep pedestrians safe, avoid congested parking lots, and the efficiency of the rides, as the time from the ride request to the Robotaxi accepting the ride was extremely fast.

Musk has been at the forefront of this operation for a decade, as Tesla has been working to release a version of the Robotaxi through the development of Full Self-Driving. This has been an effort that included seeking top-tier engineering talent and taking incredible leaps of faith, including switching to a Vision-only approach for Full Self-Driving.

Musk commended the Tesla team for its hard work:

It’s truly an incredible accomplishment, as many considered Robotaxi a “failure” despite it not even being rolled out. In May, we reported on media outlets calling the Robotaxi rollout a total failure, despite Tesla always maintaining the launch would happen in June:

Tesla Robotaxi deemed a total failure by media — even though it hasn’t been released

Hundreds of rides have already been taken, and there have not been many complaints. It’s an incredible jump forward for Tesla.

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