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Porsche Pledges Allegiance to Volkswagen Group Amid IPO Speculation

Following speculation regarding a possible IPO for Porsche, company CEO Oliver Blume told media members and industry officials that the Stuttgart-based brand is happy to be part of the Volkswagen Group.
Porsche passenger car lineup 7 photos
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Speaking at a car industry conference in Ludwigsburg, Germany, Blume stated the following: “We feel very comfortable in the Volkswagen Group, we can profit from synergies. The important thing in this time is to focus on transformation.”

By transformation, he’s almost certainly referring to the industry moving away from internal combustion engines and fully embracing battery-electric power.

That being said, back in October, Germany’s Manager Magazin reported that investment bank Goldman Sachs and law firm Freshfields were among the advisors working on a possible IPO listing for the carmaker, as reported by Reuters. As for VW Group boss, Herbert Diess, he recently said that his company is constantly reviewing its portfolio but didn’t get into more details.

What’s interesting to us is the irony of Porsche now claiming they’re comfortable within the VW Group, when a little over a decade ago they attempted to become a majority shareholder in the latter before hitting a wall in the shape of a bonafide political coup. So, instead of Porsche owning Volkswagen, it was Porsche itself that ended up taking cover under the Volkswagen AG umbrella.

In hindsight though, we believe Blume regarding his company profiting from synergies with other VW Group brands. Following the dieselgate scandal, the Group needed to pull together in order to make the switch to battery-electric vehicles, which would have been considerably more difficult and expensive if it was an “every man for himself” type of situation.

As for what we can expect from Porsche in the future, Blume once stated that his company “epitomizes freedom and independence, and the inner drive to achieve goals,” which translates to a whole lot of positive things if you’re a fan of the brand – or better yet, a potential customer.

 
 
 
 
 

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