Valmet Automotive to transfer from Tesi to direct state ownership
The State of Finland will become the majority shareholder of Valmet Automotive Plc, a Finnish automotive contract manufacturer, as part of a broader corporate and financing arrangement. Valmet Automotive will transfer from Tesi (Finnish Industry Investment Ltd) to direct state ownership. Valmet Automotive’s subsidiary IONCOR Ltd, which focuses on battery business, becomes a subsidiary of Finnish Minerals Group Ltd, a wholly state-owned company developing the Finnish battery value chain.
The financing arrangement ensures that critical industrial expertise remains in Finland despite the challenging market conditions. In line with its strategy, Valmet Automotive is expanding its operations into new industrial sectors, such as contract manufacturing for the defence industry.
Following the arrangement, the State holds a 79 per cent stake in Valmet Automotive, with Pontos owning 21 per cent. Ioncor’s shareholders will be Finnish Minerals Group (70 per cent), Varma Mutual Pension Insurance Company (16 per cent), and Pontos (14 per cent).
Read more:
- Press release by the Finnish Government, 1 Sep 2025
- Press release by Valmet Automotive, 1 Sep 2025
- Press release by IONCOR, 1 Sep 2025
- Press release by Finnish Mineral Group, 1 Sep 2025
Tesi (officially Finnish Industry Investment Ltd) is a state-owned, market-driven investment company that invests in venture capital and private equity funds and directly in Finnish startups and growth companies, and to new industrial scale businesses. tesi.fi | X (Twitter) | LinkedIn | Instagram | Bluesky | Threads | Newsletter