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76-564: The new GT2 category was announced by the SRO in 2018. It was created as the GT3 category became more focused on downforce and also harder to drive for amateur drivers. The GT2 cars would mainly focus on having a powerful engine with 640-700hp, which would be more powerful than a 560hp GT3 engine, while having low downforce more similar to the GT4 category. The first GT2 race was a Porsche single-make event at

152-432: A Zuffenhausen -based company, Reutter Karosserie, which had previously collaborated with the firm on Volkswagen Beetle prototypes, to produce the 356's steel body. In 1952, Porsche constructed an assembly plant (Werk 2) across the street from Reutter Karosserie; the main road in front of Werk 1, the oldest Porsche building, is now known as Porschestrasse. The 356 was road-certified in 1948. Porsche's company logo stems from

228-853: A 10% minority shareholding stake of the Croatian electric sportscar manufacturer Rimac Automobili to form a development partnership. In February 2022, Volkswagen AG had announced that it would examine the feasibility of a possible IPO of Porsche AG. The share capital of Porsche AG has been divided into 50% non-voting preference shares and 50% ordinary shares. Volkswagen AG will retain 75% of ordinary shares, while Porsche SE will acquire 25% of ordinary shares. Volkswagen AG will also retain 75% of preference shares, while 25% of preference shares (12.5% of share capital) will be sold during IPO, while Qatar Investment Authority has already committed to buy 4.99% of preference shares, leaving another 20.01% (10% of share capital), to other investors. As part of

304-603: A 100% subsidiary of VW AG, is responsible for the actual production and manufacture of the Porsche automobile line. The company currently produces Porsche 911 , Boxster and Cayman sports cars, the Cayenne and Macan sport utility vehicles and the four-door Panamera . Porsche AG has a 29% share in German engineering and design consultancy Bertrandt AG and 81.8% of Mieschke Hofmann und Partner . In 2018, Porsche acquired

380-630: A 49.9 percent stake in Porsche AG by the end of 2009, and it would also see the Porsche-Piëch family shareholders selling the VW distributor ownership of Porsche Holding Salzburg to Volkswagen AG, which is the largest car distributor in Europe. On 5 July 2012, Volkswagen AG announced a deal with Porsche SE, resulting in VW's full ownership of Porsche AG on 1 August 2012. The deal was classified as

456-567: A bid for Scania AB , because VW AG already had a controlling position in the Swedish truck-maker. As Porsche had no strategic interest in Scania, they offered the minimum price in that mandatory takeover bid on 19 January 2009. There has been some tension and anxiety among the VW AG management and the workers, who feared that Porsche might replace the management after the takeover, and it may signify

532-472: A hardened production efficiency control, rejection of demands for pay rises or even personnel cuts. Ferdinand Piëch (Chairman of VW AG) and his cousin, Wolfgang Porsche (Chairman of Porsche SE), also seemed to be on a collision course. However, on 13 August 2009, Scania was bought in totality, Volkswagen AG's supervisory board signed the agreement to create an "integrated automotive group" with Porsche AG, led by Volkswagen AG. Volkswagen would initially take

608-846: A holding company for the families' stake in Porsche Zwischenholding GmbH (50.1%) (which in turn held 100% of the old Porsche AG) and Volkswagen AG (50.7%). At the same time, the new Dr. Ing. h.c. F. Porsche AG ( Porsche AG ) was created for the car manufacturing business. In August 2009, Porsche SE and Volkswagen AG reached an agreement that the car manufacturing operations of the two companies would merge in 2011, to form an "Integrated Automotive Group". The management of Volkswagen AG agreed to 50.76% of Volkswagen AG being owned by Porsche SE in return for Volkswagen AG management taking Porsche SE management positions (in order for Volkswagen management to remain in control), and for Volkswagen AG acquiring ownership of Porsche AG. As of

684-665: A hybrid system. Also a plug-in hybrid model called the Panamera S E-Hybrid was released in October 2013 in the United States and during the fourth quarter of 2013 in several European countries. Porsche developed a prototype electric Porsche Boxster called the Boxster E in 2011 and a hybrid version of the 911 called the GT3 R Hybrid, developed with Williams Grand Prix Engineering in 2010. In July 2014, Porsche announced

760-471: A longtime Porsche employee, was appointed as interim CEO. Branitzki served in that position until Wendelin Wiedeking became CEO in 1993. Wiedeking took over the chairmanship of the board at a time when Porsche appeared vulnerable to a takeover by a larger company. During his long tenure, Wiedeking transformed Porsche into a very efficient and profitable company. Ferdinand Porsche's nephew, Ferdinand Piëch,

836-671: A majority holding in Volkswagen AG, Porsche SE built up a large debt burden, aggravated by taxes due on very large paper profits on Volkswagen AG options. By July 2009, Porsche SE was faced with debts exceeding 10 billion euros. The supervisory board of Porsche SE finally agreed to a number of arrangements whereby the Qatar Investment Authority would inject a large amount of capital into Porsche SE, and Porsche automobile manufacturing business would be merged with Volkswagen Group. On 23 July 2009, Michael Macht

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912-645: A new Dr Ing. h. c. F. Porsche AG operating company being formed in 2007. Thus the operating activities are separated from holding activities of the company. There was an Extraordinary General Meeting for Porsche AG shareholders which took place on 26 June 2007, at the Porsche Arena in Stuttgart , Germany to discuss the change to the company structure. By March 2009, Porsche SE was aiming for its first ever credit ratings from U.S. rating agencies Standard & Poor's and Moody's . In its process to acquire

988-470: A restructuring rather than a takeover due to the transfer of a single share as part of the deal. Volkswagen AG paid Porsche AG shareholders $ 5.61 billion for the remaining 50.1% it did not own. The families later used the amounts they received for Porsche AG and the dealership shares to buy back the Porsche SE shares from Qatar Investment Authority as described in the following section. In October 2013,

1064-518: A six-cylinder "boxer" engine . The team to lay out the body shell design was led by Ferry Porsche's eldest son, Ferdinand Alexander Porsche (F. A.). The design phase for the 911 caused internal problems with Erwin Komenda, who led the body design department until then. F. A. Porsche complained Komenda made unauthorized changes to the design. Company leader Ferry Porsche took his son's drawings to neighbouring chassis manufacturer Reuter. Reuter's workshop

1140-427: A total of 218,983 cars, 28,953 (13.22%) as domestic German sales, and 190,030 (86.78%) internationally. The company has been highly successful in recent times, and indeed claims to have the highest profit per unit sold of any car company in the world. Table of profits (in millions of euros) and number of cars produced. Figures from 2008/9 onwards were not reported as part of Porsche SE. On 11 May 2017, Porsche built

1216-640: A vehicle for the masses, which later became the Volkswagen Beetle . After World War II , when Ferdinand, a member of both the Nazi Party and the SS , would be arrested for war crimes , his son Ferry Porsche , an SS volunteer, began building his own car, which would result in the Porsche 356 . In 2009, Porsche entered an agreement with Volkswagen to create an 'integrated working group' by merging

1292-611: A vehicle. The Porsche Passport service was available initially in Atlanta , and has become available in many major cities across the US. During the COVID-19 pandemic , in March 2020, Porsche suspended its manufacturing in Europe for two weeks, "By taking this step, the sports car manufacturer is responding to the significant acceleration in the rate of infection caused by the coronavirus and

1368-633: A veto of any resolution that is proposed. This not only secured government control, but also prevented the possibility of a hostile takeover in the future. When the European Union was founded in 1993, a European Union law was signed with the principle of promoting free movement of goods, people and capital within the Union. It became somewhat clear that the anti-takeover measure (the 80% agreement requirement) in Volkswagen Law would violate

1444-693: Is a German multinational corporation primarily known as a holding company of Volkswagen Group with investments in the automotive industry . Porsche SE is headquartered in Zuffenhausen , a city district of Stuttgart , Baden-Württemberg and is majority owned by the Austrian-German Porsche-Piëch family . The company was founded in Stuttgart as Dr. Ing. h.c. F. Porsche GmbH in 1931 by Ferdinand Porsche (1875–1951) and his son-in-law Anton Piëch (1894–1952). Porsche SE

1520-400: Is a German automobile manufacturer specializing in luxury, high-performance sports cars , SUVs and sedans , headquartered in Stuttgart , Baden-Württemberg , Germany. The company is owned by Volkswagen AG , a controlling stake of which is owned by Porsche Automobil Holding SE . Porsche's current lineup includes the 718 , 911 , Panamera , Macan , Cayenne and Taycan . The origins of

1596-759: Is responsible for the actual production and manufacture of the Porsche automobile line. It was spun off from Volkswagen in September 2022, although Volkswagen still has control of the firm through its 75% stake. Porsche SE owns 25% of the voting shares of Porsche AG, or 12.5% of the total shares. Josef Michael Ahorner, Stefan Piëch and Peter Daniell Porsche, are members of board of directors of Porsche Automobil Holding along with Wolfgang Porsche , Hans Michel Piech, Ferdinand Oliver Porsche and Hans-Peter Porsche. In addition to Volkswagen AG, other subsidiaries of Porsche SE include Porsche Engineering and Porsche Design Group . Porsche SE has an approximately 10% stake in

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1672-420: Is short for Ferdinand Porsche's full title in German, Doktor Ingenieur honoris causa lit.   ' Doctor of Engineering, Honorary Degree ' Ferdinand Porsche. The main offices was at Kronenstraße 24 in the centre of Stuttgart . Initially, the company offered motor vehicle development work and consulting, but did not build any cars under its own name. One of the first assignments the new company received

1748-628: The 2019 24 Hours of Spa , fielding the 911 GT2 RS Clubsport alongside a few Porsche 935s . A second GT2 car, the Audi R8 LMS GT2 , also made its public debut at the same time. The R8 GT2 saw its race debut at the 2019 GT Sports Club finale at Barcelona. During 2020, both KTM and Lamborghini launched their GT2 models, the KTM X-bow GT2 and the Lamborghini Huracán Super Trofeo GT2 . In 2021

1824-494: The Boxster roadster to their most famous product, the 911 . The Cayman is a coupé otherwise similar to the Boxster. The Cayenne is Porsche's mid-size luxury sport utility vehicle (SUV). A high performance luxury saloon/sedan , the Panamera , was launched in 2009. In 2010, Porsche launched the Cayenne S Hybrid and announced the Panamera S Hybrid , and launched the Porsche 918 sports car in 2014, which also features

1900-665: The European company law (as a part of the EU law), and it was feared that suitors would eventually be able to take over Volkswagen AG, as amendments to the German law and the bylaws of VW AG were seen to be likely. In late 2005, Porsche took an 18.65% stake in the Volkswagen Group, further cementing their relationship, and preventing a takeover of Volkswagen Group, which was rumoured at the time. Hypothetical suitors included DaimlerChrysler AG , BMW , and Renault . As of June 2006,

1976-595: The Mercedes-AMG GT Track series . Includes Super Trofeo Evo and Evo2 Since 2020, SRO GT2 cars have been either exclusive to or in a distinct class in each of the following series ( bold indicates an active series that currently uses SRO GT2 cars): Additionally, the following series allow SRO GT2 cars to participate alongside other competitors: Porsche Dr. Ing. h.c. F. Porsche AG , usually shortened to Porsche ( German pronunciation: [ˈpɔʁʃə] ; see below ),

2052-539: The Volkswagen Group (which also owns Audi AG ), because the first Volkswagen Beetle was designed by Ferdinand Porsche . The two companies collaborated in 1969 to make the VW-Porsche 914 and 914-6 , whereby the 914-6 had a Porsche engine, and the 914 had a Volkswagen engine. Further collaboration in 1976 resulted in the Porsche 912 E (US only) and the Porsche 924 , which used many Audi components, and

2128-535: The coat of arms of the Free People's State of Württemberg of Weimar Germany of 1918–1933, which had Stuttgart as its capital. (The Bundesland of Württemberg-Hohenzollern used the same arms from 1945 to 1952, while Stuttgart during these years operated as the capital of adjacent Württemberg-Baden .) The arms of Stuttgart appear in the middle of the logo as an inescutcheon , for the company had its headquarters in Stuttgart. The heraldic symbols, combined with

2204-464: The suspension . The 356, however, had several evolutionary stages, A, B, and C, while in production, and most Volkswagen-sourced parts were replaced by Porsche-made parts. Beginning in 1954 the 356s engines started utilizing engine cases designed specifically for the 356. The sleek bodywork was designed by Erwin Komenda , who also had designed the body of the Beetle. Porsche's signature designs have, from

2280-449: The 272,162 cars produced in 2020, 34,328 were 911 models, 21,784 were 718 Boxster and Cayman cars, 92,860 were Cayennes, 20,015 Taycan vehicles. Of the 321,321 vehicles produced in 2022, 41,947 were 911 models,18,080 were 718 Boxster/Cayman models, 91,117 were Macans, 98,113 were Cayennes, 35,241 were Panameras and 36,823 were Taycan models. The base price as of March 2024 are: The current Porsche model range includes sports cars from

2356-485: The 31.9% stake in Volkswagen AG and 12.5% stake in Porsche AG are the predominant investments by Porsche SE, and Volkswagen AG in turn controls brands and companies such as Volkswagen , Audi , SEAT , Škoda , Bentley , Bugatti , Lamborghini , Porsche AG , Ducati , VW Commercial Vehicles, Scania , MAN , as well as Volkswagen Financial Services. Dr. Ing. h.c. F. Porsche AG (which stands for Doktor Ingenieur honoris causa Ferdinand Porsche Aktiengesellschaft )

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2432-653: The 456 kilowatts (620  PS ; 612  bhp ) Carrera GT commenced in Leipzig, and at EUR 450,000 ($ 440,000 in the United States) it was the most expensive production model Porsche ever built. In mid-2006, after years of the Boxster (and later the Cayenne) as the best selling Porsche in North America, the 911 regained its position as Porsche's best-seller in the region. The Cayenne and 911 have cycled as

2508-517: The 911 during the 1970s and replace it with the V8 - front engined grand sportswagon 928 . As we know today, the 911 outlived the 928 by far. Fuhrmann was replaced in the early 1980s by Peter W. Schutz , an American manager and self-proclaimed 911 aficionado. He was then replaced in 1988 by the former manager of German computer company Nixdorf Computer AG, Arno Bohn , who made some costly miscalculations that led to his dismissal soon after, along with that of

2584-541: The American traffic information provider INRIX . Volkswagen and its principal factory (with the newly built town that hosted it, called Wolfsburg today) were designed by Ferdinand Porsche and his design office, and the factory with supporting town facilities were established by the German government then led by the National Socialist (Nazi) Party in 1937–1938. When the government-owned Volkswagenwerk GmbH

2660-524: The EU Court of Justice ruled that a redraft of the Volkswagen law "complied in full" with EU rules, bringing "the matter to a close," as the 80% agreement requirement was taken off. This officially made Porsche SE the controlling owner of Volkswagen AG. Porsche reformed the company's structure, with Dr Ing. h. c. F. Porsche AG becoming a holding company , renamed "Porsche Automobil Holding SE ", and

2736-666: The GT Sportsclub was renamed to the GT2 European Series , and only allowed for SRO GT2 class cars to compete. The GT America Series also added the GT2 category as a class alongside its GT3 and GT4 classes. As of January 7 2024, seven cars have been homologated for the SRO GT2 class. A few non-homologated cars have also raced in GT2 competition, such as the second generation Porsche 935 , Ferrari 488 Challenge Evo and

2812-423: The Porsche AG stake in VW AG had risen to 25.1%, giving Porsche the veto rights along with the government. On 26 March 2007, amidst the rumours that hedge funds were trying to takeover VW AG with the intent to dismantle and dispense the components of Volkswagen Group, Porsche took its holding of Volkswagen AG shares to 30.9%, triggering a takeover bid under German law which required other shareholders to be given

2888-441: The Porsche family, and a supervisory board consisting largely of family members. With this change, most family members in the operation of the company, including F. A. Porsche and Ferdinand Piëch, departed from the company. F. A. Porsche founded his own design company, Porsche Design , which is renowned for exclusive sunglasses, watches, furniture, and many other luxury articles. Louise's son and Ferry's nephew Ferdinand Piëch , who

2964-786: The SUV are also assembled in the Volkswagen Touareg factory in Bratislava , Slovakia. Boxster and Cayman production was outsourced to Valmet Automotive in Finland from 1997 to 2011, and in 2012 production moved to Germany. Since 2011, the area of the Zuffenhausen plant has more than doubled, from 284,000 m (28.4 ha) to 614,000 m (61.4 ha), as a result of purchasing the former Layher, Deltona and Daimler sites, among others. In 2015, Porsche reported selling

3040-476: The Volkswagen Law. In October 2007, the European Court of Justice ruled against the law, potentially paving the way for a takeover. On 16 September 2008, Porsche increased its holdings to 35.14%, in effect almost taking control of the company, with more than 35% of the voting rights. It again triggered a takeover bid, but this time over Audi AG. Porsche dismissed the bid as a mere formality, since it

3116-489: The arms of Württemberg lives on in the Porsche logo. On 30 January 1951, not long before the formation of Baden-Württemberg, Ferdinand Porsche died from complications following a stroke. In post-war Germany, parts were generally in short supply, so the 356 automobile used components from the Volkswagen Beetle, including the engine case from its internal combustion engine , transmission , and several parts used in

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3192-478: The beginning, featured air-cooled rear-engine configurations (like the Beetle), rare for other car manufacturers, but producing automobiles that are very well balanced. In 1964, after a fair amount of success in motor-racing with various models including the 550 Spyder , and with the 356 needing a major re-design, the company launched the Porsche 911 : another air-cooled , rear-engined sports car, this time with

3268-533: The car manufacturing business. In August 2009, Porsche SE and Volkswagen AG reached an agreement that the car manufacturing operations of the two companies would merge in 2011, to form an "Integrated Automotive Group". The management of Volkswagen AG agreed to 50.7% of Volkswagen AG being controlled by Porsche SE in return for Volkswagen AG management taking Porsche SE management positions (in order for Volkswagen management to remain in control), and for Volkswagen AG acquiring ownership of Porsche AG. As of 2024,

3344-510: The chairman of Volkswagen Group . The first chief executive officer (CEO) of Porsche AG was Ernst Fuhrmann , who had been working in the company's engine development division. Fuhrmann was responsible for the so-called Fuhrmann-engine, used in the 356 Carrera models as well as the 550 Spyder, having four overhead camshafts instead of a central camshaft with pushrods, as in the Volkswagen-derived serial engines. He planned to cease

3420-461: The company date to the 1930s when Czech-German automotive engineer Ferdinand Porsche founded Porsche with Adolf Rosenberger , a keystone figure in the creation of German automotive manufacturer and Audi precursor Auto Union , and Austrian businessman Anton Piëch , who was, at the time, also Ferdinand Porsche's son in law. In its early days, it was contracted by the German government to create

3496-419: The company's legal form was changed from Kommanditgesellschaft (KG), or limited partnership, to Aktiengesellschaft (AG), or public limited company, because Ferry Porsche came to believe the scale of the company outgrew a "family operation", after learning about Soichiro Honda 's "no family members in the company" policy at Honda . This led to the establishment of an executive board with members from outside

3572-419: The development director, Dr. Ulrich Bez , who was formerly responsible for BMW's Z1 model, and was CEO of Aston Martin from 2000 to 2013. In 1990, Porsche drew up a memorandum of understanding with Toyota to learn and benefit from Japanese lean manufacturing methods. In 2004 it was reported that Toyota was assisting Porsche with hybrid technology . Following the dismissal of Bohn, Heinz Branitzki ,

3648-474: The end of 2015, the 52.2% control interest in VW AG is the predominant investment by Porsche SE, and Volkswagen AG in turn controls brands and companies such as Volkswagen , Audi , SEAT , Škoda , Bentley , Bugatti , Lamborghini , Porsche AG, Ducati , VW Commercial Vehicles, Scania , MAN , as well as Volkswagen Financial Services. Dr. Ing. h.c. F. Porsche AG (which stands for Doktor Ingenieur honoris causa Ferdinand Porsche Aktiengesellschaft ), as

3724-402: The headquarters will include a new office building and test track. The facility will be known by its new address, One Porsche Drive. In October 2017, Porsche Cars North America announced the launch of Porsche Passport, a new sports car and SUV subscription program . This new offering allows consumers to access Porsche vehicles through subscribing to the service, rather than owning or leasing

3800-549: The island state of Tasmania . The plant will be the first of its type in the country. The facility is to be named the HIF (Highly Innovative Fuels) Tasmania Carbon Neutral eFuel Plant . It is slated to open in 2026. The headquarters and main factory are located in Zuffenhausen, a district in Stuttgart , where Porsche produces flat-6 and V8 piston engines. Cayenne and Panamera models are manufactured in Leipzig , Germany, and parts for

3876-524: The launch by the end of 2014 of the Porsche Cayenne S E-Hybrid a plug-in hybrid , which will displace the Cayenne S Hybrid from the lineup. The S E-Hybrid will be the first plug-in hybrid in the premium SUV segment and will allow Porsche to become the first automaker with three production plug-in hybrid models. In July 2017, Porsche installed its first 350 kW, 800V charging station, which

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3952-600: The official distributor of the Stuttgart-based company in Malaysia since 2010. Of the 246,375 cars produced in the 2017 financial year, 32,197 were 911 models, 25,114 were Boxster and Cayman cars, 63,913 were Cayennes, 27,942 were Panameras and 97,202 were Macans. Of the 268,691 cars produced in 2018, 36,236 were 911 models, 23,658 were 718 Boxster and Cayman cars, 79,111 were Cayennes, 35,493 were Panameras, 93,953 were Macans and 240 Taycan pre-series vehicles. Of

4028-480: The one-millionth 911. An Irish green Carrera S was built for the celebration, and it will be taken on a global tour before becoming a permanent exhibit at the Porsche Museum in Stuttgart. In August 2021, Porsche has confirmed that it will be setting up a production plant in Malaysia, the first country outside of Europe. Local assembly will be handled by Porsche Malaysia's partner, Sime Darby, which has been

4104-712: The operating company Dr Ing. h. c. F. Porsche AG began trading on the Frankfurt Stock Exchange ( FWB :  P911 ). The shares ended trading on their opening day at €84, valuing the company at €76 billion. Porsche AG has 455.5 million ordinary and preferred shares each. In the listing process, Volkswagen Group sold 25% + 1 of the ordinary shares of Porsche AG to the holding company Porsche SE, representing 12.5% direct ownership (exclusive of Porsche SE's indirect interest through its holdings in Volkswagen Group). The Qatar Investment Authority , which

4180-423: The opportunity to sell the shares at least at the price paid by the new major shareholder. Porsche then formally announced in a press statement that it did not intend to take over Volkswagen Group (it would set its bid price at the lowest possible legal value) but intended to move to avoid a competitor taking a large stake. Porsche's move came after the European Union announced that it intends to take steps against

4256-455: The preliminary offering, 113,875 thousand shares were sold at the upper limit of the price range - 82.5 euros. Thus, the value of the company was estimated at 75 billion euros. In the first hours of trading on the Frankfurt stock exchange on 29 September, the share price rose to 84 euros. In April 2022, Porsche Australia announced they are planning to open an efuel manufacturing facility in

4332-405: The race-track, in rallies , and in terms of road car sales. It remains in production; however, after several generations of revision, current-model 911s share only the basic mechanical configuration of a rear-engined, six-cylinder coupé , and basic styling cues with the original car. A cost-reduced model with the same body, but with a 356-derived four-cylinder engine, was sold as the 912. In 1972,

4408-485: The resultant measures implemented by the relevant authorities." In August 2022, Bloomberg News reported that Porsche has lined up interest in subscription of its initial public offering for a valuation between US$ 60–85   billion. It is expected to be listed on Frankfurt Stock Exchange in September. The company has always had a close relationship with, initially, the Volkswagen (VW) marque , and later,

4484-486: The same name, but is only a subsidiary of Porsche SE. In June 2013, Qatar Holdings, through the Qatar Investment Authority , sold its 10% holding in Porsche SE back to the founding Porsche-Piëch family, giving them 100% voting rights in the holding company. Porsche SE currently owns 50.73% of the voting rights in Volkswagen AG as the largest (controlling) shareholder. On 29 September 2022, preferred shares of

4560-400: The texts "Porsche" and "Stuttgart", do not form a conventional coat of arms , since heraldic achievements never spell out the name of the armiger nor the armiger's home town in the shield. Württemberg-Baden and Württemberg-Hohenzollern both in 1952 became part of the present Bundesland of Baden-Württemberg after the political consolidation of West Germany in 1949, but the old design of

4636-558: The top-selling model since. In Germany, the 911 outsells the Boxster/Cayman and Cayenne. In May 2011, Porsche Cars North America announced plans to spend $ 80–$ 100 million, but will receive about $ 15 million in economic incentives to move their North American headquarters from Sandy Springs , a suburb of Atlanta , to Aerotropolis, Atlanta , a new mixed-use development on the site of the old Ford Hapeville plant adjacent to Atlanta's airport . Designed by architectural firm HOK ,

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4712-404: The two companies' car manufacturing operations. By 2015, Porsche SE , the holding company spun off from the original Porsche firm, had a controlling interest in the Volkswagen Group , which included Audi and Lamborghini as subsidiaries. Ferdinand Porsche (1875–1951) founded the company called "Dr. Ing. h. c. F. Porsche GmbH " with Adolf Rosenberger and Anton Piëch in 1931. The name

4788-501: The upcoming Porsche Mission E will use. As of 2017, the Porsche charging station is the fastest electric vehicle charging station in the world, being able to charge a Porsche Mission E up to 80% within 15 minutes. Porsche is also currently working with other manufacturers to make Porsche charging stations compatible with other electric vehicles. Porsche SE Porsche Automobil Holding SE , usually shortened to Porsche SE ( German pronunciation: [ˈpɔʁʃə] ),

4864-779: The war, losing out to Henschel & Son in both contracts that ultimately led to the Tiger I and the Tiger II . However, not all this work was wasted, as the chassis Porsche designed for the Tiger I was used as the base for the Elefant tank destroyer . Porsche also developed the Maus super-heavy tank in the closing stages of the war, producing two prototypes. Ferdinand Porsche's biographer, Fabian Müller, wrote that Porsche had thousands of people forcibly brought to work at their factories during

4940-570: The war. The workers wore the letter "P" on their clothing at all times. It stood not for "Porsche", but for "Poland". At the end of World War II in 1945, the Volkswagen factory at KdF-Stadt fell to the British. Ferdinand lost his position as chairman of the board of management of Volkswagen, and Ivan Hirst , a British Army major, was put in charge of the factory. (In Wolfsburg, the Volkswagen company magazine dubbed him "The British Major who saved Volkswagen".) On 15 December of that year, Ferdinand

5016-414: Was Porsche's intention to keep the corporate structure of the Volkswagen Group. In October 2008, Porsche SE announced its intent to raise its stake in Volkswagen AG to 75% during 2009, and on 7 January 2009, Porsche SE's holding in VW AG was raised to 50.76%. At 75% ownership level, Porsche SE would have been able to bring VW AG's cash position onto Porsche SE books. Porsche's move automatically triggered

5092-443: Was appointed CEO of Porsche AG, to replace Wendelin Wiedeking , who was expected to receive a compensation package of 50 million euros. In July 2010, Porsche AG appointed Volkswagen executive Matthias Müller to its new CEO position, moving Michael Macht to another executive position within Volkswagen AG. In July 2012, it was announced that Volkswagen AG was taking over the Porsche AG automotive company completely, which bears

5168-556: Was arrested for war crimes, but not tried. During his 20-month imprisonment, Ferdinand Porsche's son, Ferry Porsche , decided to build his own car, because he could not find an existing one that he wanted to buy. He also had to steer the company through some of its most difficult days until his father's release in August 1947. The first models of what was to become the 356 were built in a small sawmill in Gmünd , Austria. The prototype car

5244-538: Was built at Audi's Neckarsulm factory, which had been NSU 's. Porsche 944s were also built there, although they used far fewer Volkswagen components. The Cayenne, introduced in 2002, shares its chassis with the Volkswagen Touareg and the Audi Q7 , which is built at the Volkswagen Group factory in Bratislava , Slovakia . Porsche SE was created in June 2007 by renaming the old Dr. Ing. h.c. F. Porsche AG, and became

5320-610: Was chairman and CEO of the Volkswagen Group from 1993 to 2002 and is chairman of the Volkswagen AG Supervisory Board since then. With 12.8 percent of the Porsche SE voting shares, he also remains the second-largest individual shareholder of Porsche SE after his cousin, F. A. Porsche, which had 13.6 percent. Porsche's 2002 introduction of the Cayenne also marked the unveiling of a new production facility in Leipzig , Saxony , which once accounted for nearly half of Porsche's annual output. In 2004, production of

5396-411: Was created in June 2007 by renaming the old Dr. Ing. h.c. F. Porsche AG, and became a holding company for the families' stake in Porsche Zwischenholding GmbH (50.1%) (which in turn held 100% of the old Porsche AG) and currently is the major shareholder in Volkswagen AG (31.3%) and holds the majority voting rights (53.1%). At the same time, the new Dr. Ing. h.c. F. Porsche AG ( Porsche AG ) was created for

5472-574: Was from the German government to design a car for the people; that is, a Volk swagen . This resulted in the Volkswagen Beetle , one of the most successful car designs of all time. Later, the Porsche 64 would be developed in 1939 using many components from the Beetle. During World War II , Volkswagen production turned to the military version of the Volkswagen Beetle, the Kübelwagen , 52,000 produced, and Schwimmwagen , 15,584 produced. Porsche produced several designs for heavy tanks during

5548-477: Was later acquired by Porsche (so-called Werk 2). Afterward, Reuter became a seat manufacturer, today known as Keiper-Recaro . The design office gave sequential numbers to every project (See Porsche type numbers ), but the designated 901 nomenclature contravened Peugeot 's trademarks on all 'x0x' names, so it was adjusted to 911. Racing models adhered to the "correct" numbering sequence: 904, 906, 908. The 911 has become Porsche's most well-known model – successful on

5624-452: Was privatized in 1960 into Volkswagen AG (VW AG), the German parliament enacted the law known as Volkswagen Law to govern the privatization process. In order to maintain government control in the privately owned company, the law stipulated that the votes on major shareholder meeting resolutions would require 4/5th (80%) agreement. This effectively gave any shareholder with more than 20% ownership (the government of Lower Saxony held 20.1%)

5700-424: Was responsible for mechanical development of Porsche's production and racing cars (including the very successful 911 , 908 and 917 models), formed his own engineering bureau, and developed a five-cylinder-inline diesel engine for Mercedes-Benz . A short time later he moved to Audi (used to be a division, then a subsidiary, of Volkswagen), and pursued his career through the entire company, ultimately becoming

5776-431: Was shown to German auto dealers, and when pre-orders reached a set threshold, production (with aluminum body) was begun by Porsche Konstruktionen GesmbH , founded by Ferry and Louise . Many regard the 356 as the first Porsche simply because it was the first model sold by the fledgling company. After production of the 356 was taken over by the father's Dr. Ing. h.c. F. Porsche GmbH in Stuttgart in 1950, Porsche commissioned

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