Porsche and VW to integrate
Porsche and VW to integrate, put 10 brands under single roof
Posted Wednesday, May 6, 2009, 4:14 pm in Employee News
Reuters reports that Porsche Automobil Holding SE and its Volkswagen unit will unite to put 10 brands under one roof, Porsche said today.
“In the final structure, 10 brands shall stand below an integrative leading company alongside each other, whereby the independence of all brands and explicitly also of Porsche shall be ensured,” a statement said.
Volkswagen has nine brands. The Porsche sports car brand is held separately by the holding company owned in turn by the Porsche and Piech families, according to Reuters.
The decision to create an integrated carmaking group came, sources told Reuters, after Porsche abandoned its target of reaching a 75 percent majority holding in VW. (Reuters)
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