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Porsche participates in Rimac’s €500M Series D round

Green Car Congress

Porsche and Rimac are taking the next step in their collaboration with focus on the digital and electrified future of mobility. The total volume of the round is €500 million, with Porsche investing an eight-figure sum. The total volume of the round is €500 million, with Porsche investing an eight-figure sum.

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Porsche and electric hypercar maker Rimac to set up JV incorporating Bugatti

Green Car Congress

The Volkswagen Group’s Porsche and Croatian hyper-EV developer Rimac have agreed to set up a joint venture that incorporates Bugatti—another Volkswagen Group brand that is moving to the control of Porsche. Rimac will hold a 55% share in the Bugatti-Rimac joint venture, while Porsche will have a 45% share.

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Porsche to invest more than $7.4B in electromobility by 2022

Green Car Congress

Porsche will invest more than €6 billion (US$7.4 Plans for derivatives of the Mission E are also under way: last week at the Geneva show, Porsche presented a production-ready concept study of the Mission E Cross Turismo. —Oliver Blume, Chairman of the Executive Board of Porsche AG. billion) in electromobility by 2022.

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Porsche IPO for VW Group’s EV push gains traction

Teslarati

On February 24, 2022, Porsche Automobil Holding SE (Porsche SE) and Volkswagen agreed to “further examine and generally support the feasibility” of a potential Porsche IPO. The possible IPO of Porsche AG would generate funds to help Volkswagen AG increase electric vehicle production and digitalization. . “We

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VW and Porsche to Merge; New Integrated Auto Group with 10 Brands, Led by VW

Green Car Congress

At its extraordinary meeting today, Volkswagen AG’s Supervisory Board approved the comprehensive agreement to create an integrated automotive group with Porsche, led by Volkswagen. Porsche Automobil Holding SE’ss Supervisory Board has also approved the concept for the combination of the two companies.

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Audi to invest ~€14B in electromobility, digitalization and autonomous driving over next 5 years

Green Car Congress

At the same time, Audi is pushing forward with the digitalization of its automobiles and plants, and is expanding its business model with new digital services such as “functions on demand”. In order to finance its course for the future from its own resources, the company is systematically rolling out the Audi Transformation Plan.

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Audi increases upfront expenditure for electric mobility; €12B by 2024

Green Car Congress

—Alexander Seitz, Board of Management Member for Finance, China and Legal Affairs at Audi AG. “. Audi intends to achieve about 40% of its worldwide unit sales with all-electric and hybridized automobiles by then. The cross-brand architectures will enable high Group synergies to be utilized in the future.

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