Volkswagen Group Officially Completes Acquisition of Porsche, Finally
It was the start of a New Year when we first heard that Volkswagen’s plan on purchasing Porsche might finally come to fruition. Seven long months of a drama-filled acquisition later, it can be officially said that Volkswagen has taken full control of Porsche.
Both automakers promise that Porsche will “retain its own identity”, but the acquisition will allow both brands to share their research and technology.
Back in 2008, Porsche announced that it owned 75 percent of Volkswagen’s shares and was going to perform a takeover. But the luxury sports car automaker began piling up the debt that reversed its fortunes. In 2009, Volkswagen performed a merger with Porsche and then ousted then-CEO Wendelin Wiedeking.
But as of now, Volkswagen controls 100 percent of Porsche’s shares, making the Volkswagen Group even more impressive than it already was.
Volkswagen also owns luxury brands like Bentley, Bugatti and Lamborghini.
Jason Siu began his career in automotive journalism in 2003 with Modified Magazine, a property previously held by VerticalScope. As the West Coast Editor, he played a pivotal role while also extending his expertise to Modified Luxury & Exotics and Modified Mustangs. Beyond his editorial work, Jason authored two notable Cartech books. His tenure at AutoGuide.com saw him immersed in the daily news cycle, yet his passion for hands-on evaluation led him to focus on testing and product reviews, offering well-rounded recommendations to AutoGuide readers. Currently, as the Content Director for VerticalScope, Jason spearheads the content strategy for an array of online publications, a role that has him at the helm of ensuring quality and consistency across the board.
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