Volkswagen Will Soon Own Porsche

Volkswagen will soon complete the $4.5 billion acquisition deal of the luxury sports car maker Porsche. Porsche will soon be added to Volkswagen’s brand list that includes Audi, Bentley, Bugatti and Lamborghini, alongside Volkswagen, Seat and Skoda.

Ferdinand Piech, who is the VW AG supervisory board chairman and also the grandson of the founder of Porsche, Ferdinand Porsche wants to add the Italian brand Alfa-Romeo to the list as well. Alfa-Romeo is owned by Fiat, and is still not up for sale.

Ferdinand Piech is playing all the right cards to try and buy Alfa-Romeo although it is still not up for sale. On the other hand, Marchionne is working on organizing Alfa’s operation better to reduce the cost of production as plans for its re-introduction into the US market next year are imminent.

Although there were rumors of a deal that involved Porsche taking over Volkswagen, the market has swayed the places these huge brands hold and hence it has worked in the opposite direction.

Volkswagen and Porsche have worked together before to come up with the Touareg/Porsche Cayenne, which share their engineering platforms and powertrains, and more such intertwined productions are expected to happen as a result of this new ownership.

Via: Luxist

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