Porsche – Wikipedia, the free encyclopedia

Porsche Automobil Holding SE, usually shortened to Porsche (German pronunciation: [p]( listen)[2]), is a German holding company with investments in the automotive industry.

Porsche SE is headquartered in Zuffenhausen, a city district of Stuttgart, Baden-Wrttemberg and is owned by the Pich and Porsche families. In July 2012, it was announced that Volkswagen AG was taking over the Porsche automotive company completely, which bears the same name, but is only a subsidiary of Porsche SE.[3][4] In June 2013, Qatar Holdings, through the Qatar Investment Authority, sold its 10% holding back to the founding family, giving them 100% control.[5] Porsche owns 50.73% of the voting rights in Volkswagen AG.[6]

The company was founded in Stuttgart as Dr. Ing. h.c. F. Porsche GmbH in 1931 by Ferdinand Porsche (18751951),[7] his son-in-law Anton Pich (18941952).

Porsche SE is the owner of Dr. Ing. h.c. F. Porsche AG (Porsche AG), and in June 2007 became a holding company for its stake in Porsche Zwischenholding GmbH (50.1%) (which in turn holds 100% of Porsche AG) and Volkswagen AG (50.7%).[8][9] In August 2009, Porsche SE and Volkswagen AG reached an agreement that the two companies would merge in 2011, to form an "Integrated Automotive Group".[10][11] During December 2009, Porsche SE lost control of Porsche Zwischenholding GmbH, which as a result is now a joint venture between Porsche SE and Volkswagen AG. As of 5 July 2012, Volkswagen is to acquire the 50.1 percent in Porsche's capital that it doesn't already hold from holding company Porsche SE for 4.46 billion plus one Volkswagen share.

Dr. Ing. h.c. F. Porsche AG (which stands for Doktor Ingenieur honoris causa Ferdinand Porsche Aktiengesellschaft), 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.

Other subsidiaries and operating divisions include Porsche Consulting, Porsche Engineering, Porsche Design Group, Mieschke Hofmann und Partner (81.1%)[12] and Bertrandt (25%).[13]

Porsche Engineering Group (PEG) has for many years offered consultancy services to various other car manufacturers. Audi, Mercedes, Opel, Studebaker, SEAT, Daewoo, Subaru, Zastava Automobiles and others have consulted Porsche Engineering Group for their cars or engines. The Lada Samara[14] was partly developed by Porsche in 1984. Porsche Engineering Group also helped Harley-Davidson design the Revolution 60-degree v-twin water-cooled engine and gearbox that is used in their V-Rod motorcycle.[15]

Ferdinand Porsche founded the company called "Dr. Ing. h. c. F. Porsche GmbH" in 1931,[16] with main offices at Kronenstrae 24 in the centre of Stuttgart. Initially, the company offered motor vehicle development work and consulting,[16] but did not build any cars under its own name. One of the first assignments the new company received was from the German government to design a car for the people, that is a "Volkswagen".[16] This resulted in the Volkswagen Beetle, one of the most successful car designs of all time.[17] The Porsche 64 was developed in 1939 using many components from the Beetle.[16]

During World War II,[18]Volkswagen production turned to the military version of the Volkswagen Beetle, the Kbelwagen,[18] 52,000 produced, and Schwimmwagen,[18] 14,000 produced. Porsche produced several designs for heavy tanks during 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.[19]

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."[20]) On 15 December of that year, Ferdinand 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.[21] The first models of what was to become the 356 were built in a small sawmill in Gmnd, Austria.[21] The prototype car was shown to German auto dealers, and when pre-orders reached a set threshold, production was begun. Many regard the 356 as the first Porsche simply because it was the first model sold by the fledgling company. Porsche commissioned 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.[22] The 356 was road certified in 1948.

See the article here:
Porsche - Wikipedia, the free encyclopedia