Porsche Wants to Partner With, Not Control, VW

Volkswagen AG is a gold mine, but "you have to dig day and night," says Porsche AG CEO Wendelin Wiedeking.

With a 27.4 percent stake in VW, Porsche has a major interest -- a 4 billion euro investment, or $5.2 billion at current exchange rates -- in the automaker and stands to benefit from a stock price increase. Porsche is expected to increase its share of VW to 29.9 percent but doesn't want to "take over" Volkswagen or merge, says Wiedeking.

Wiedeking says he won't seek control beyond his responsibilities on the supervisory board. He is lobbying for another Porsche seat on the 20-member board -- the German equivalent of a board of directors. Porsche already has two seats.

"We want to keep Porsche completely independent of all VW brands" says Wiedeking.


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Talli - 1/11/2007 12:01:17 PM

+1 Boost

VW is definetly the best motoring corp. I mean, just listing the brands under VW AG gives you the shivers. Bently, Bugatti, Lambo...... etc.
See what I mean??

indifferent - 1/11/2007 8:01:02 PM

-1 Boost

they are a good brand, but i dont know about best. atleast in the US. i dont think they acurratly address the needs of the consumer. The jetta is popular, as is their SUV but nothing stands out. Toyota, honda both are able to capture VW's market a lot better by building cars the consumers want, at a price the consumers want. VW is over priced for the average man yet not good enough to compete with BMW/Lexus/MB. Its almost as if VW is in a class of its own, a class most people tend to stay away from

S4cabriofoxone - 1/11/2007 10:07:04 PM

+2 Boost

I agree, about the US... but the US isn't the world. On the contrary, in Europe, VW matches their needs perfectly, with almost every one of their cars having a diesel variant and a hatchback version. It's pretty easily the biggest automaker there, which keeps it in the #4 position around the world.

Top five brands:

1. General Motors
2. Toyota Motors
3. Ford MoCo.
4. Volkswagen Group
5. DaimlerChrysler Group

AmazingBimmer - 1/12/2007 12:02:30 AM

-1 Boost

i keep asking never getting a response.. why does porsche want fwd car technology with old components, bad designs and one of the most expensive labor costs a(and therefore least prductive) automakers ?

S4cabriofoxone - 1/12/2007 4:26:06 PM

+2 Boost

Why are you such an idiot?

Do you have any idea that Porsche and VW are two peas in a pod? They were created by the same damn guy!

Porsche has always wanted to partner with VW, and vice versa. Just because they're cars for the masses, and Porsches are astronomical sports cars, doesn't mean they don't complement each other. I doubt your maturity with every new post.