RICHARD GRIMES

RICHARD GRIMES

Elite Automation

Car dream

7 Feb 2024

Porsche Article Talk Read View source View history Tools Page semi-protected From Wikipedia, the free encyclopedia This article is about the automotive brand and manufacturer, Porsche AG. For the holding company that is the majority owner of Volkswagen Group, see Porsche SE. For other uses of Porsche, see Porsche (disambiguation). Dr. Ing. h.c. F. Porsche AG Headquarters in Stuttgart Company typePublic (AG) Traded asFWB: P911 DAX component ISINDE000PAG9113 IndustryAutomotive Founded1931; 93 years ago in Stuttgart, Germany FounderFerdinand Porsche HeadquartersStuttgart, Germany Area servedWorldwide Key peopleWolfgang Porsche, Chairman Oliver Blume, CEO[1] ProductsAutomobiles Production outputIncrease 321,321 vehicles[2] (2022) ServicesAutomotive financial services, engineering services, investment management RevenueIncrease €37.630 billion (2022)[2] Operating incomeIncrease €6.770 billion (2022)[2] Net incomeIncrease €4.957 billion (2022)[2] Total assetsDecrease €47.673 billion (2022)[2] Total equityDecrease €17.027 billion (2022)[2] Owners Volkswagen AG (75%) Porsche SE (12.5%) QIA (2.5%)[3] Number of employees39,162 (2022)[2] Subsidiaries Mieschke Hofmann und Partner (81.8%) Porsche Consulting Websitewww.porsche.com Dr. Ing. h.c. F. Porsche AG, usually shortened to Porsche (German pronunciation: [ˈpɔʁʃə] ⓘ; see below), is a German automobile manufacturer specializing in high-performance sports cars, SUVs and sedans, headquartered in Stuttgart, Baden-Württemberg, Germany. The company is owned by Volkswagen AG, a controlling stake of which is owned by Porsche Automobil Holding SE. Porsche's current lineup includes the 718, 911, Panamera, Macan, Cayenne and Taycan. The origins of the company date to the 1930s when Czech-German automotive engineer Ferdinand Porsche founded Porsche[4] with Adolf Rosenberger, a keystone figure in the creation of German automotive manufacturer and Audi precursor Auto Union,[5] and Austrian businessman Anton Piëch, who was, at the time, also Ferdinand Porsche's son in law. In its early days, it was contracted by the German government to create a vehicle for the masses, which later became the Volkswagen Beetle.[6] After World War II, when Ferdinand would be arrested for war crimes, his son Ferry Porsche began building his own car, which would result in the Porsche 356. In 2009, Porsche entered an agreement with Volkswagen to create an 'integrated working group' by merging the two companies' car manufacturing operations.[7][8] By 2015, Porsche SE, the holding company spun off from the original Porsche firm, had a controlling interest in the Volkswagen Group, which included Audi and Lamborghini as subsidiaries.[9] History Origin Ferdinand Porsche (1875–1951) founded the company called "Dr. Ing. h. c. F. Porsche GmbH"[4] with Adolf Rosenberger[10] and Anton Piëch in 1931.[11] The name is short for Ferdinand Porsche's full title in German, Doktor Ingenieur honoris causa lit. 'Doctor of Engineering, Honorary Degree' Ferdinand Porsche.[12] The main offices was at Kronenstraße 24 in the centre of Stuttgart.[13] Initially, the company offered motor vehicle development work and consulting,[4] 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.[4] This resulted in the Volkswagen Beetle, one of the most successful car designs of all time.[6] Later, the Porsche 64 would be developed in 1939 using many components from the Beetle.[4] Porsche's tank prototype, the "Porsche Tiger", that lost to Henschel & Son's Tiger I Panzerjäger Elefant – after the loss of the contract to the Tiger I, Porsche recycled his design into a tank destroyer. During World War II,[14] Volkswagen production turned to the military version of the Volkswagen Beetle, the Kübelwagen,[14] 52,000 produced, and Schwimmwagen,[14] 15,584 produced.[15] 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.[16] Ferdinand Porsche's biographer, Fabian Müller, wrote that Porsche had thousands of people forcibly brought to work at their factories during the war. The workers wore the letter "P" on their clothing at all times. It stood not for "Porsche", but for "Poland".[17] 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".)[18] 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.[19] The first models of what was to become the 356 were built in a small sawmill in Gmünd, Austria.[19] The prototype car was shown to German auto dealers, and when pre-orders reached a set threshold, production (with aluminum body) was begun by Porsche Konstruktionen GesmbH, founded by Ferry and Louise. Many regard the 356 as the first Porsche simply because it was the first model sold by the fledgling company. After production of the 356 was taken over by the father's Dr. Ing. h.c. F. Porsche GmbH in Stuttgart in 1950, 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.[20] The 356 was road-certified in 1948.

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