Porsche (automotive brand)

Porsche logo

Porsche is a German luxury automobile company with its headquarters in Stuttgart, Baden-Württemberg, producing high-performance luxury sports cars, SUVs, and sedans. Porsche Automobil Holding SE owns a controlling interest in Volkswagen AG, which owns the business.

in 1972 the company form was changed from a limited partnership to a joint-stock company (AG in German) because Ferry Porsche and his sister Louise Piëch felt that members of their generation did not work well as a team. As a result, a board of directors was later formed, with people not only from the Porsche family as members, and the majority of the supervisory board was made up of family members. As a result, not a single family member was the head of the company later. FA Porsche founded his own design company, Porsche Design Group, which is known for its exclusive sunglasses, watches, furniture and many other luxury items. Ferdinand Piëch, who was responsible for the mechanical development of Porsche production and racing models, founded his own design company and developed a 5-cylinder diesel engine for Mercedes-Benz. Before long, he moved to Audi, and rose through the ranks;

The first CEO of Porsche AG was Dr. Ernst Fuhrmann, who worked on the development of Porsche engines. Fuhrmann was responsible for the Fuhrmann engine used in the 356 Carrera models, just like the 550 Spyder, featuring four camshafts instead of the single center shaft used in Volkswagen's production engines. He intended to end production of the 911 in the 1970s and replace it with the Grand Sportwagon with a front-mounted V8 engine. As we know it today, the 911 significantly outlived the 928. Fuhrmann was replaced in the early 1990s by Peter W. Schutz, an American manager and 911 fan. The latter was replaced in 1988. the former manager of the German computer company Nixdorf Computer AG, Arno Bohn, who made several mistakes that led to his dismissal along with the director of the development department, Dr. Ulrich Bez, who was previously responsible for the BMW Z1 model. Today, U. Bez is the CEO of Aston Martin. in 1990 Porsche convened an MOU with Toyota to learn about Japanese manufacturing methods. Toyota is currently helping Porsche develop hybrid technology, with a Cayenne hybrid rumored to be on the way, as well as the upcoming Panamera four-door coupe. Meanwhile, when Bohn was fired, a long-time Porsche employee, Heinz Branitzki, was appointed CEO, serving in that position until 1993. he was replaced by dr. Wendelin Wiedeking. Wiedeking took full control of the company when it looked like Porsche would be taken over by a larger company. During his long leadership, Wiedeking turned Porsche into a highly efficient and profitable company.

Ferdinand Porsche's grandson, Ferdinand Piëch, was CEO of the Volkswagen Group from 1993 to 2002. Currently chairman of the supervisory board with 12.8 percent of Porsche's voting rights, he also remains the second individual owner of shares in Porsche AG (the first being his cousin FA Porsche with 13.6 percent). in 2002 Porsche introduced the Cayenne , and also opened a factory in Leipzig, thanks to which Porsche produces almost half of its annual models. The Cayenne Turbo S has the second most powerful Porsche engine in its lifetime, the last being installed in the Carrera GT.

in 2004 The 605-horsepower Carrera GT, priced at €450,000 ($440,000 in the United States), went into production in Leipzig. It was the most expensive Porsche model. Since 2005 increased voting shares of the Porsche and Piech families in Porsche AG. In early 2005 in October, the company announced that it owned 18.53% of Volkswagen AG shares and said it had no plans to acquire additional VW shares in the future. Since 2006 In June, Porsche AG's stake in Wolkswagen rose to 25.1%, giving Porsche a blocking option: it is allowed to veto Porsche's takeover by Volkswagen.

Porsche currently offers a variety of sports vehicles, from the Boxster roadster to their most well-known model, the 911. The Cayman is a coupé that resembles the Boxster in various ways. Porsche's mid-size luxury sport utility vehicle is called the Cayenne SUV while The Panamera, a high-performance luxury saloon/sedan, was introduced in 2009.

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