Porsche

In a recent interview, Porsche CEO Oliver Blume confirmed the German automaker plans to launch a sporty new all-electric SUV that will be positioned as top-tier model above both the Cayenne and Macan. The new SUV appears to have been somewhat expedited as Porsche faces delays on its all-electric Macan SUV due to software development issues at parent company Volkswagen Group. In case you’ve been living in a bunker your whole life, Porsche AG is a German sports car manufacturer with nearly a century of experience in…

Porsche POAHY 4.09% makes a strong case that it shares the attractions of the best luxury brands: a growing market, high margins and economic resilience. But the German sports-car maker also comes with luxury’s common weakness: a powerful controlling shareholder. On Monday, Dr. Ing. h.c. F. Porsche, as the company is formally known, said it would grow revenues by as much as 18% this year and achieve an operating profit margin above 20%…

Porsche insisted it “sustained strong delivery figures” in the first half of 2022, “despite a number of challenges”, though sales fell 5% year on year to 145,860 vehicles. “We…have successfully navigated a first half year shaped by external factors and uncertainties,” said sales and marketing chief Detlev von Platen. “In addition to the difficulties posed by the resurgence of the Covid pandemic in China and other markets,…

Aurora Labs aims to bring AI to the software-defined vehicle. Aurora Labs has secured US$63 million through a Series C financing round led by Moore Strategic Ventures. Also participating in the round was existing investor Porsche Automobil Holding SE, majority owner of VW Group and Colmobil Corp, Israel’s leading automotive importer and distributor. Colmobil Corp is led by the Harlap family who were early investors in…

Porsche Cars North America is recalling 12,490 2020-2022 Taycan vehicles. A software error could cause the centre screen (including rearview camera image) and the touch control panel remain to black directly after the ignition is activated. Also, the Real-Top-View (including rearview camera image) could display a flickering image. As such, these vehicles fail to comply with the requirements of Federal Motor Vehicle Safety…

Porsche’s electric bike shopping spree isn’t over. The German automaker announced Thursday that it would be acquiring Fazua, an e-bike drivetrain manufacturer that specializes in lightweight motors. After buying a 20 percent stake in the company earlier this year, Porsche said it would acquire all of Fazua’s shares, making it the latest e-bike company to come under the automaker’s control. Porsche acquired a majority stake in Croatian e-bike company Greyp (pronounced like the fruit) late last year. Fazua is an…

German automotive manufacturer Porsche isn’t sitting in the slow lane when it comes to expanding the company’s reach in the electric bike market. Porsche’s latest power move in the two-wheeled EV industry just saw it buy up Fazua, an innovative electric bicycle drive manufacturer. Fazua makes a number of interesting electric bicycle drives and components, but the company’s flagship product is an e-bike drive that allows both the motor and battery to be completely removed from the bike. The removal can be done in…

Porsche is strengthening its relationship with EV supercar company Rimac, investing "eight figures" for a total ownership stake of 20 percent, TechCrunch reported. Rimac scored $500 million in total, with additional funds coming in from investment giants Softbank and Goldman Sachs. All of that is a huge vote of confidence in the company, which has become a key supplier and collaborator on EVs built by Hyundai, Porsche and other mainstream automakers.  Porsche, which invested $83.3 million in Rimac last year, said it's…

Porsche is strengthening its ties with Rimac, an electric supercar company, by participating in a $500 million investment round for the Croatia-based startup. Porsche didn’t disclose the exact amount it invested in Rimac, except to say it was “eight figures.” And Porsche won’t have a controlling interest in Rimac, retaining its previously disclosed 20 percent equity stake in the company. Over the years, Porsche has grown closer to Rimac, buying shares in the company and setting up a joint venture to run Bugatti after…

Representative Image As electrification increases globally, automakers are also witnessing a shift in customer preferences. Just like Maruti Suzuki and Volvo phased out their diesel engines in favour of cleaner petrols and hybrids. Manual transmissions too seem to be getting the boot globally. The journey from ‘most popular to novelty’ will be a 180 degree turn in the manual transmission’s life where by the end of the decade, we might only see them survive in select sports cars that are out of reach for most. Here are…