AUTOMOTIVE
DECEMBER 1, 2021
The Journey Of Porsche Automotive Company
The journey of Porsche automotive company, a German automaker that produce luxurious sports cars with incredible power.
Porsche history started when Ferdinand Porsche (1875 – 1951), a German automotive engineer, founded the company in 1931. It was a humble beginning and there were only about 200 workers. The main offices was at Kronenstraße 24 in the centre of Stuttgart. The name Porsche is a German word meaning “offerings”.
One of the first assignments was from German government to design a car for common people, a Volkswagen. This job resulted in the Volkswagen Beetle, one of the most successful car designs of all time.
During World War II, the military version of Volkswagen Beetle was introduced, the Kubelwagen. Porsche also designed some heavy tanks prototype for German military.
At the end of World War II in 1945 Ferdinand was arrested for war crimes. His son, Ferdinand “Ferry” Anton Ernst Porsche continued to build his own car until his father’s release in August 1947. He founded the Porsche Konstruktionen in Austria in 1947 and led the company. Ferry and his team introduced the first Porsche model in 1948, named the Porsche 356.
Currently Volkswagen Group owns Porsche company. In 2009 the deal was set and Volkswagen acquired Porsche company for $11.3 billion in cash. They merged in 2011 and Volkswagen Group is the parent company for Porsche as well as other luxury brands including Bentley, Bugatti, Audi and Lamborghini. The Porsche family would retain their shares in a holding company that owned 50% of Volkswagen.
Porsche’s current lineup includes 718 Boxster/Cayman, 911, Panamera, Macan, Cayenne and Taycan. The headquarters are in Stuttgart, Baden-Württemberg, Germany. As of 2020 they have around 36 thousand employees with net income of EU 3.166 billion and operating income EU 4.177 billion.
According to carcitymotors.com website, Reliability Index, a leading industry analyst puts Porsche second in its list of most reliable luxury cars in January 2020.
Today the Porsche headquarters and main factory are located in Zuffenhausen, Stuttgart, Germany. The location is the place where the very first Porsche production model was made. And now the factory is where all Porsche sports cars and engines continue to be manufactured.
related post