Pontos involved in the ownership and financing arrangement between IONCOR, a company focused on battery systems, and Valmet Automotive

Pontos has participated in the ownership and financing arrangement announced today, concerning the Finnish State becoming the majority owner of Valmet Automotive. In addition, IONCOR, Valmet Automotive’s subsidiary focused on battery systems, will become a subsidiary of Finnish Minerals Group, a fully state-owned company developing the battery value chain.

In the ownership and financing arrangement, the Finnish State and Pontos will acquire a 20.6 percent shareholding in Valmet Automotive from the Chinese Contemporary Amperex Technology Limited. Following the financing arrangement, the State will own 79 percent and Pontos 21 percent of Valmet Automotive.

At the same time, the State, Varma Mutual Pension Insurance Company, and Pontos together will acquire Valmet Automotive’s shares in IONCOR, the company’s subsidiary focused on battery systems. IONCOR Ltd will become a subsidiary of Finnish Minerals Group, a fully state-owned company developing the battery value chain. The parties have agreed that the acquisition price will not be disclosed. Following the financing arrangement, IONCOR will be owned by Finnish Minerals Group (70 percent shareholding), Varma (16 percent), and Pontos (14 percent).

“We are pleased with the ownership and financing arrangement that has now been implemented. It enables Valmet Automotive’s strategic expansion to new industries, such as contract manufacturing of defense supplies. IONCOR, on the other hand, will become an integral part of the Finnish battery value chain as a result of the arrangement and is therefore ideally positioned to develop its operations,” says Timo Kokkila, member of the Board of Directors of Pontos Oy and Valmet Automotive Plc.

Additional information:

Timo Kokkila, member of the Board, Pontos Oy, timo.kokkila@pontos.fi, tel. +358 10 239 6359

Pontos Group is a Finnish family office investing widely in different asset classes, with a focus on real estate and private equity investments. The company is committed to the long-term development of its portfolio companies in its operating areas in Finland, Estonia, the Netherlands and Portugal. Read more: www.pontos.fi

Valmet Automotive is one of the leading vehicle contract manufacturers in the world, and one of the largest European manufacturers of convertible roof and kinematic systems, including electric vehicle charging flaps and active spoilers.

IONCOR designs and manufactures battery solutions for the electrification of transport, commercial vehicles, and off-highway machinery. IONCOR was established in the fall of 2024 when the Electric Vehicle Systems business line of Valmet Automotive was renamed as IONCOR.