Valmet Automotive spins off EV division into standalone company
Valmet Automotive sets to grow its battery business, naming new leaders while targeting expansion beyond automotive to decarbonize various sectors
Valmet Automotive has announced the transformation of its Electric Vehicle Systems (EVS) business line into a standalone company, asserting its strategy to enhance business line independence and to capitalize on market evolutions and opportunities. Retaining ownership, Valmet Automotive establishes this new entity with distinct leadership and governance, marking a significant stride in its five-year journey of constructing a substantial battery business for the automotive industry. As of 2023, this sector has achieved over €1.2 billion in gross sales and employs 1,400 across seven facilities in Finland and Germany.
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