Porsche to play bigger role at Volkswagen
While Porsche has no plans of taking over Volkswagen any time soon, Porsche will play a bigger role in the decisions at Volkswagen group, industry insiders say. Porsche is currently the largest shareholder of Volkswagen with a 27.4 percent stake. While the company itself is a fraction of Volkswagen’s size, Porsche CEO compared their stake in Volkswagen to the automotive industry in their last financial results release saying:
We opened the game. Other players are either striking out against us or joining us in our moves””and now everybody not acquainted with the tactics we had carefully considered in advance is feeling nervous. VW, with all its brands, is the only one with the potential to stand up to Toyota.”
[tags]Cars, Car, Auto, Automobile, Vehicles, Technology, Auto News, News, Porsche[/tags]
