Volkswagen eyes Porsche stock float for electric push

The tentative plan is estimated to value the sportscar brand at as much as €85bn

Volkswagen is considering floating its Porsche luxury car brand to help fund the group's push into electric cars to rival Tesla.

Volkswagen is preparing a stock market flotation of Porsche, seeking a listing of its most profitable asset to help boost the parent’s valuation and fund the push into electric vehicles.

VW’s preferred shares surged as much as 10% after the announcement on a possible IPO outline between the carmaker and Porsche Automobil Holding, a company controlled by the billionaire Porsche and Piech-owner family.