Crash in the VW group: Diess rejects the Porsche IPO


There is a dispute in the Volkswagen Group over a possible IPO of the sports car subsidiary Porsche. CEO Herbert Diess told the “Frankfurter Allgemeine Zeitung” (Saturday edition): “The issue of the Porsche IPO is currently not a high priority for me”. Even if only part of the sports car manufacturer’s shares were traded freely, VW would lose part of the high inflow of funds that Porsche generated for the group.

“At the moment there is a lot to be said for using the money for our structural change,” said Diess. “You don’t want to give up a pearl like Porsche.”

On the other hand, Porsche CFO Lutz Meschke had recently campaigned aggressively for the advantages of being listed on the stock exchange. This makes the value of the company more transparent and could also raise the rating of Volkswagen AG.

For a higher market value, however, Diess is relying on the group-wide expansion of electric cars and autonomous driving. “In my opinion, evaluating the corporate parts individually does not fit into a time when our transformation to e-mobility will bring enormous synergies across all corporate divisions.”

The current shortage of control chips continues to cause problems. “This is a topic that is causing us a lot of headache at the moment and is also burdening production,” Diess told the newspaper. “So far we have not been able to build around 100,000 cars due to a lack of semiconductors.” How it will look for the year as a whole is still difficult to say. Because VW hope to be able to make up some of the losses.

[ source link ]

Crash group Diess rejects Porsche IPO


Please enter your comment!
Please enter your name here