Acquired · Porsche · Overview
Porsche
Engineering identity surviving multiple ownership eras.
Major events · 1931–2022
- 1931Founding
Dr. Ing. h.c. F. Porsche GmbH founded
Ferdinand Porsche founds an engineering consulting firm in Stuttgart. Early commissions include the Wanderer Type W17 and eventually the Volkswagen project.
Acquired Porsche episode
- 1948Product
Porsche 356 — first production car, built in a Gmünd garage
Ferry Porsche builds the first 356 from Volkswagen components while Ferdinand is imprisoned. 52 cars built in Gmünd before moving to Stuttgart. The 356 is the direct ancestor of the 911.
Acquired Porsche episode
- 1963Product
Porsche 911 introduced
The 911 (originally 901, renamed to avoid Peugeot's three-digit naming patent) becomes Porsche's defining product. Over 60 years later it is still in continuous production, though every component has been updated.
Acquired Porsche episode
- 1998Strategic shift
Porsche acquires stake in VW — the reverse acquisition begins
Porsche AG begins acquiring Volkswagen shares. By 2007 it holds options on ~74% of VW, effectively attempting a reverse takeover of a company 10x its size.
Acquired Porsche episode
- 2009Crisis
VW acquires Porsche — the reversal of the reversal
The 2008 financial crisis makes Porsche's leveraged VW position untenable. VW acquires Porsche AG in 2009-2012. The Porsche and Piëch families remain powerful through their hold on VW Group voting shares.
Acquired Porsche episode
- 2022IPO
Porsche AG IPO at ~€75B
VW lists Porsche AG separately. The Porsche and Piëch families acquire a 25% stake with full voting rights; VW retains 75% of ordinary shares. The IPO values Porsche's brand alone at more than most European automakers' total capitalization.
Porsche AG IPO disclosures
Origin
A consulting and engineering company that designed cars for others before building its own — the 356, Porsche's first production car (1948), was built by hand in a Gmünd, Austria garage from Volkswagen parts.
Ferdinand Porsche founded Dr. Ing. h.c. F. Porsche GmbH in 1931 as an engineering consulting firm. His commissions included the Volkswagen Beetle (1938 — originally the 'Kraft-durch-Freude-Wagen'). After WWII, his son Ferry Porsche built the first 356 from VW components while Ferdinand was imprisoned by the French. The 356 led to the 911, introduced in 1963, which became the foundational product. The 911 is the longest-running continuously produced sports car in history. Porsche's ownership structure has been unusual: it was owned by VW Group, then attempted to acquire VW (and failed spectacularly), and eventually went public in 2022 in one of Europe's largest IPOs.
Key facts
Porsche AG IPO (2022)
~€75B
Deliveries (2023)
~320,000
Operating margin (2023)
~18%
Episodes · 1 covering this company