Porsche Automobil Holding FRANKFURT: PAH3, P911

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Forget Tesla. The More Interesting EV Race is Porsche vs. Ferrari.

https://www.marketwatch.com/articles/po ... 1625238013

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Pierwsze zdjęcia nowego Porsche

Nasr i Cameron zostali potwierdzeni jako kierowcy Porsche podczas prezentacji programu sportowego niemieckiego producenta na sezon 2022.

W wydanym komunikacie możemy przeczytać, że obaj będą „intensywnie zaangażowani w dalszy rozwój prototypu LMDh Porsche”.

Zarówno Nasr, jak i Cameron od lat byli blisko związani z Porsche i Penske Motorsport, które będzie prowadzić fabryczny zespół producenta zarówno w FIA World Endurance Championship, jak i IMSA WeatherTech SportsCar Championship w 2023 roku.

Przejście do Porsche byłego kierowcy Saubera - Felipe ***, który w tym roku zdobył swój drugi tytuł w IMSA jeżdżąc dla Action Express Racing Cadillac, wydawało się przesądzone, gdy w październiku ogłoszono, że w składzie tej ekipy w sezonie 2022 zastąpi go Tristan Nunez.

Cameron natomiast był częścią zespołu Penske Acura w trzyletnim okresie od sezonu 2018 do 2020, zdobywając tytuł w IMSA z Juanem Pablo Montoyą w 2019 roku. W sezonie 2021 współpracował z Hondą w ekipie Meyer Shank Racing.
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https://www.msn.com/pl-pl/motoryzacja/w ... d=msedgntp

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Porsche IPO Prospect Lifts Volkswagen Investors’ Spirts

This sums up how Volkswagen (DE:VOWG_p) investors seem to be reacting to Europe’s biggest carmaker announcing it’s preparing an initial public offering of Porsche. Speculation that VW would list its most lucrative asset has been swirling for years, but progress toward this actually taking place sent preference shares rising the most since December. The stock is adding to those gains Wednesday.

The IPO could come as soon as the second half of the year, people familiar with the deliberations told my colleagues Christoph Rauwald and Monica Raymunt. Bloomberg Intelligence estimates Porsche could be worth as much as 85 billion euros ($96 billion), generating significant value for shareholders thanks to top-tier margins and popular electric offerings.

The initiative is code-named “Phoenix,” the people said, a nod to the immortal bird in Greek mythology that regenerates and rises from the ashes of its predecessor. That’s pretty fitting, since the powerful Porsche-Piech family that partly controls VW more than a decade ago tried to have Porsche take over the far-larger manufacturer, only for VW to then turn the tables and gobble up the maker of the 911 sports car.

The move to set Porsche free again is a sign of the upheaval that has gripped the auto industry as it speeds toward electrification. Several carmakers and parts suppliers are considering structural shake-ups to excite investors.

Ford is looking at ways to separate its EV operations from the company’s legacy internal combustion engine business, Bloomberg reported last week. Daimler spun off its trucks business last year to allow Mercedes-Benz to better focus on electrifying its passenger cars. Aptiv has undergone a dramatic reinvention since the auto supplier spun off by pre-bankruptcy General Motors (NYSE:GM) went through its own restructuring. It’s emerged as a Wall Street darling positioned to support electrification and advanced driver assistance systems.

VW Chief Executive Officer Herbert Diess has tried for years to untangle the company’s convoluted conglomerate structure, arguing a lack of agility is impeding efforts to catch up with and eventually bypass Tesla on EVs, software and self-driving technology.

Diess created considerable excitement last March by detailing a massive EV and battery-making push, but those efforts have sputtered somewhat. VW has had a tough time sourcing enough semiconductors, which has hampered output. On the electric front, the Tesla Model 3 and Renault Zoe both outsold VW’s ID.3 and ID.4 models in Europe last year.

On top of that, the IPO of VW’s Traton truckmaking unit fizzled largely due to infighting and a limited free float, while an attempt to separate the Lamborghini supercar and Ducati motorcycle brands didn’t pass muster.

Porsche presents a golden opportunity for Diess to change the narrative. The division sold more cars than ever in 2021, with sales of the fully electric Taycan more than doubling and overtaking the iconic 911 for the first time. The brand will have five versions of the Taycan on offer from mid-March and plans to introduce a battery-powered version of the Macan compact SUV in 2023.

Of course, a Porsche IPO won’t be a walk in the park. VW’s 20-member supervisory board is composed of factions notorious for conflicting interests. Worker representatives, who account for half the seats, are often aligned with two officials from the German state of Lower Saxony who tend to want to protect jobs. Pleasing the powerful Porsche-Piech clan while making sure that losing its prime asset won’t turn VW into a “bad bank” of sorts will be a difficult tightrope for Diess to walk.

For the time being, at least, the advanced negotiations VW and its top investor are having are reason for optimism.

“We think a Porsche IPO, which has been a hot topic of discussion for years, is now more of a possibility of actually happening than ever before,” RBC analyst Tom Narayan said in a note.

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Zakłady Porsche w Lipsku wstrzymały produkcję co najmniej do końca przyszłego tygodnia - podał w środę rzecznik firmy.

Według zapewnień firmy nadal prowadzona będzie produkcja samochodów w Zuffenhausen pod Stuttgartem. „W najbliższych dniach i tygodniach będziemy działać ostrożnie stale oceniając sytuację”- poinformowały władze Porsche. Przerwami w produkcji z powodu wąskich gardeł w dostawach jest dotknięte także BMW. Ponieważ brakuje części z Ukrainy, wstrzymana zostanie w nadchodzącym tygodniu produkcja w bawarskim Dingolfing. Jak zapewnił rzecznik: „Jesteśmy w tracie rozmów z dostawcami”.

Ukraina jest ważnym producentem wiązek kablowych dla przemysłu motoryzacyjnego. Niemiecki koncern Leoni AG posiada dwa zakłady w zachodniej części tego kraju. Kable dla branży motoryzacyjnej produkują tam także inne liczne firmy.

Wiązki kablowe są jednym z elementów, które nie mogą być modyfikowane - w przeciwieństwie na przykład do półprzewodników, które często mogą być zainstalowane w późniejszym terminie.

https://www.msn.com/pl-pl/motoryzacja/w ... d=msedgntp

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Porsche to suspend Taycan production in Stuttgart-Zuffenhausen plant

FRANKFURT (Reuters) - Volkswagen (DE:VOWG_p)'s luxury division Porsche will suspend production of its electric Taycan model at the group's Stuttgart-Zuffenhausen plant until the end of next week, the company said in a statement, citing a lack of components.

This means that about 200 Taycan cars cannot be built per day, Porsche said.

However, production at Porsche's Leipzig plant, which has been suspended until the end of this week, will be partially resumed from Monday due to an improved supply situation, the group added.

European carmakers are struggling to obtain crucial wire harnesses as suppliers in western Ukraine have been shuttered by Russia's invasion, forcing them to curtail production.

https://www.investing.com/news/stock-ma ... nt-2780979

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Porsche increases EV targets, confirms 911 hybrid sports car

KEY POINTS
As the all-electric Porsche Taycan sedan outsells the German carmaker’s iconic 911 sports car, the company is increasing its EV sales targets. It also plans to roll out a hybrid version of the 911.

Porsche on Friday announced it expects 80% of its global sales to be all-electric vehicles by 2030.

The Taycan is Porsche’s first and only all-electric car so far. It represented about 14% of the company’s 301,915 vehicles sold in 2021.

https://www.cnbc.com/2022/03/18/porsche ... s-car.html

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BERLIN (Reuters) – Volkswagen’s largest shareholder, Porsche SE, supports Volkswagen’s proposed plan for an IPO of luxury sportscar maker Porsche AG, the holding company said on Tuesday, adding no final decision had been made.

BERLIN (Reuters) -Top Volkswagen shareholder Porsche SE supports plans to list luxury sportscar maker Porsche AG but the conflict in Ukraine could affect the timing of the proposed IPO, the holding company said on Tuesday.

Volkswagen aims to conduct the Porsche initial public offering (IPO) in the fourth quarter of 2022, though that may change if the conflict in Ukraine drags on, Porsche SE’s finance chief said.

“We cannot rule out, if the conflict lasts a longer time, that this could have potential implications on the listing,” Johannes Lattwein told a news conference, without elaborating on how it would affect plans.

No final decision has been made on the proposed IPO, the company said.

A framework agreement for the listing proposed by Volkswagen in February includes selling 25% plus 1 ordinary share in the carmaker to Porsche SE as well as listing up to 25% of Porsche AG’s preferred stock.

Some 49% of the IPO proceeds would be paid out to Volkswagen’s shareholders as a special dividend.

“Porsche SE thereby supports the plans of Volkswagen AG to expand its financial flexibility and accelerate the technological transformation of the group,” Porsche SE said in a statement reporting its annual results.

“Due to the leading positioning of Porsche AG in the sport and luxury segment, this attractive investment would diversify our portfolio and our dividend inflows,” Lattwein said.

Porsche Automobil Holding SE, which is controlled by the Porsche and Piech families and holds a 31.4% equity stake in Volkswagen, has no plans to reduce its stake in the German carmaker, Poetsch said.

The IPO would also not impact the composition of the Volkswagen supervisory board.

Porsche SE reported a 2021 group result after tax of 4.6 billion euros ($5.06 billion). It forecast group results after tax in 2022 at between 4.1 billion and 6.1 billion euros, not including the impact of the possible Porsche IPO.

https://www.fxempire.com/news/article/p ... -ag-950842
https://www.investing.com/news/stock-ma ... ys-2793685

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BERLIN (Reuters) – Volkswagen’s premium brands Audi and Porsche have decided to join Formula 1, said Volkswagen Chief Executive Herbert Diess on Monday.

BERLIN (Reuters) – Volkswagen’s premium brands Audi and Porsche have decided to join Formula 1, said Volkswagen Chief Executive Herbert Diess on Monday.

He added that Porsche’s preparations to enter the highest class of international motor racing were a little more concrete.

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Volkswagen still optimistic for Q4 Porsche IPO - CFO

MUNICH (Reuters) - Despite market volatility, Volkswagen (ETR:VOWG_p) is still working toward an initial public offering (IPO) for Porsche in the fourth quarter that would give the luxury brand more freedom, the German carmaker's finance chief said on Wednesday.

"We are optimistic we can pursue this project in the fourth quarter," Chief Financial Officer Arno Antlitz said at the Reuters Automotive Europe conference in Munich. "Porsche would gain entrepreneurial freedom, we can expect a lot from them."

He added there was still plenty of investor appetite and capital available for an IPO.

"All the reasons we should pursue that project are still in place," he said.

Like other major carmakers, world No. 2 Volkswagen is in the middle of an expensive transition to electric vehicles.

https://www.investing.com/news/stock-ma ... fo-2842060

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LONDON (Reuters) - Porsche may have to go public at a steep discount if it insists on going ahead as economic obstacles mount, two people involved in the landmark multi-billion-euro listing said.

The prospect of a larger than customary discount would be a setback to the controlling families pushing the initial public offering to fund a costly makeover from petrol- to electric-driven sports cars.

Original expectations have been high for the luxury car brand owned by Europe's biggest carmaker, Volkswagen (ETR:VOWG_p). Some had valued Porsche at more than 80 billion euros ($81.89 billion), according to bankers involved.

But the people involved said a bigger-than-usual markdown may now be necessary to secure what could be one of the world's largest stock-market debuts - in the face of war, threat of recession and energy shortages.

Porsche may have to settle for as little as 60 billion euros, one of the people said, noting that the owners would not accept anything less.

The people shared their assessment, amid a wider debate about the price tag for one of Germany's most prestigious brands unfolding weeks ahead of the expected IPO.

One of the people said owners of the fastcar maker have different views on how highly it should be valued. A third person involved in the preparations said investors had yet to agree on a valuation formula.

This week, Porsche's top management outlined their business plans to investors. Chief Finance Officer Lutz Meschke told journalists the carmaker was "financially resilient" and "well-prepared for further steps".

Porsche estimated revenue of more than 38 billion in 2022, up from 33 billion in 2021, despite a 5% drop in deliveries in the first six months of this year.

Behind the scenes, however, some investors are wavering.

Last month, Bernstein Research put a wide range of possible valuations on Porsche, from 55 billion euros to 100 billion euros.

It set the 'fair value' at about 75 billion euros, based on a formula including Earnings Before Interest and Taxes (EBIT), calling Porsche "a great company but not Ferrari (NYSE:RACE)" because of the latter's higher margins.

A top-20 Volkswagen shareholder told Reuters it was not keen on the IPO because only a small amount of stock will be sold, giving new shareholders little influence.

The shareholder, asking not to be named, said Porsche would be better off staying within the Volkswagen Group, while the IPO would not "create value" in the long term.

Earlier this week, Porsche Chief Executive Oliver Blume and Meschke were upbeat in their presentations.

Business was robust during the pandemic, Blume said. "There is big need in the capital markets and a lot of money to invest."

Bankers running the deal intend to survey market conditions at the end of August, with a Porsche board decision and an intention to float (ITF) document potentially set for publication soon after, and a view to trading on the Frankfurt Stock Exchange at the turn of the third to fourth quarter, the people said.

A spokesperson for Porsche said there had been no "new decisions" on its IPO plans, while Volkswagen declined to comment.

ELECTRIC SWITCH

The listing is happening as Germany's carmakers seek to loosen the bond with the diesel and petrol motors that won global acclaim and shift towards quieter, cleaner battery models.

Porsche wants 80% of its car sales to be electric by 2030, roughly quadrupling the current level, while Volkswagen has also embarked on an ambitious shift towards electric vehicles, batteries and software. The listing is designed to fund that overhaul.

If the listing does not go ahead or gets through only at a discount, there is less to invest.

A listing would also shift the balance of power at Europe's top carmaker, Volkswagen, which controls Porsche since a botched takeover attempt of VW more than a decade ago. At the time, the Porsche and Piech families became Volkswagen's most influential investors.

An IPO would win Porsche and its family owners greater control over the sportscar maker, the company has said.

However, the economic hurdles are steep.

Just $2.3 billion has been raised on German equity capital markets this year, down 90% on a year earlier, according to Refinitiv data. Only 12.5% of Porsche stock will be in 'free float', and European carmakers' valuations have plunged since the start of 2022.

Luxury carmakers have been particularly hard hit. Aston Martin's market cap has lost 57% of its value since the beginning of 2022, while almost a third has been shaved off Ferrari's valuation.

One banker involved said Porsche might be compared to highly rated luxury brands, such as French luxury goods house LVMH TSLA) Inc.

https://www.investing.com/news/stock-ma ... ng-2849179

https://www.investing.com/news/stock-ma ... ng-2849179

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BERLIN (Reuters) - Volkswagen (ETR:VOWG_p)'s sportscar brand Porsche expects to produce as many units of its Macan model in the electric version as the original with combustion engine, production chief Albrecht Reimold told magazine Automobilwoche.

"We produce more than 80,000 units of today's generation, and in the long term we also plan to produce as many of the all-electric Macan," Reimold was quoted as saying.

The Macan compact sports-utility vehicle is one of Porsche's top-selling models. So far, Porsche's only all-electric model is the coupe Taycan. The Macan should follow in 2023/24.

Porsche expects to make as many electric Macans as combustion versions

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Porsche has gained investor interest in its initial public offering at a valuation of up to $85 billion, Bloomberg reported Friday.

According to Bloomberg sources, the news signals one of Europe's largest ever listings is set to go ahead despite market uncertainty.

The German luxury automobile brand, owned by Volkswagen AG (ETR:VOWG_p), is said to have gained pre-orders that surpass the shares on offer at a valuation between EUR60 billion and EUR85 billion ($85 billion), with Porsche potentially announcing its intention to float in Frankfurt in the first week of September.

The investors reportedly indicating an interest in subscribing to the IPO at that value include T. Rowe Price Group, Inc. (NASDAQ:TROW) and Qatar Investment Authority. In addition, Bloomberg's sources said Porsche has been assessing interest from Red Bull, Dietrich Mateschitz, and LVMH (EPA:LVMH) Chairman Bernard Arnault.

Volkswagen's (OTC:VLKAF) US-listed OTC shares are up 2.5% at the time of writing.

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To ma być transakcja warta miliony dolarów, za sprawą której Porsche stanie się nowym hegemonem F1. Do przejęcia 50 proc. akcji Red Bull Racing i sojuszu dwóch gigantów może jednak nie dojść. "Czerwone byki" boją się utraty swojej niezależności.

W roku 2026 w Formule 1 pojawią się nowe silniki, a wraz z nimi do rywalizacji mają przystąpić dwaj giganci motoryzacyjni. Audi już w ubiegły piątek potwierdziło swoje plany i szykuje się do nabycia 75 proc. akcji Saubera (obecnie rywalizuje jako Alfa Romeo). Z kolei Porsche od miesięcy ma przygotowywać się do budowy jednostek napędowych wraz z Red Bull Racing. Niemcy mieliby też nabyć 50 proc. udziałów w ekipie z Milton Keynes.

Ostatnie pogłoski z padoku F1 wskazują, że transakcja może się wykoleić na ostatniej prostej. "Motorsport Total" ustalił, że obie strony nie są w stanie porozumieć się ws. tego, kto będzie miał kluczowe zdanie w zespole i będzie pociągał za sznurki w Red Bull-Porsche, bo tak nazywać miałby się zespół począwszy od sezonu 2026.

Niezależność Red Bulla

Red Bull Racing od lat jest obecny w F1 i dorobił się miana jednej z lepszych ekip w stawce. "Czerwone byki" były w stanie rzucić wyzwanie Mercedesowi czy Ferrari, choć nie są gigantem motoryzacyjnym. To w głównej mierze zasługa Dietricha Mateschitza. Austriacki miliarder, zapalony entuzjasta motorsportu, co roku potrafi wydawać setki milionów dolarów na Formułę 1.
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https://www.msn.com/pl-pl/wiadomosci/ot ... estro=true

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Volkswagen boards to discuss Porsche listing on Monday

BERLIN (Reuters) -Volkswagen's management and supervisory boards will meet on Monday to discuss whether the long-anticipated listing of sports car brand Porsche should go ahead in late September or early October, the carmaker said on Saturday.

A decision will also be made on whether Volkswagen (ETR:VOWG_p) approves of the sale of 25% plus one share of ordinary shares in Porsche AG to Porsche SE, as laid out in a framework agreement by the two parties in February.

That would give the Porsche and Piech families, which control Porsche SE, a blocking minority - a step that would bolster their push for greater control of the carmaker that was founded by their ancestor Ferdinand Porsche in 1931.

Porsche SE, which owns 31.4% of Volkswagen and holds 53.3% of voting rights, confirmed Monday's meeting in a separate statement, adding that the listing's launch was still subject to market developments and further board discussions.

Under the framework deal https://www.reuters.com/business/autos- ... 022-02-24/ reached in February, 25% of preference shares will be sold on the open market, equal to just 12.5% of Porsche's total capital.

Even that could raise up to 10.6 billion euros ($10.55 billion) if the brand's valuation reaches the higher end of investor estimates at about 85 billion euros, according to Reuters calculations.

That would make the listing among the largest in German history and the biggest in Europe since Enel (BIT:ENEI) SpA in 1999, according to Refinitiv data.

Ordinary shares, which would be solely owned by Volkswagen and Porsche SE under the plans, would not be publicly listed.

Some investors have questioned the timing of a stock market debut that would test the appeal of Europe's largest automaker at a time when the valuations of leading companies have shrunk amid the instability of war and record energy costs.

"It is becoming increasingly clear that the shareholder families are putting their interests first," said Henrik Schmidt, governance expert at Volkswagen investor DWS.

https://www.investing.com/news/stock-ma ... ay-2885455

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Demand for Porsche AG listing strong as retail investor subscription period begins

BERLIN (Reuters) -The books for Volkswagen (ETR:VOWG_p)'s hotly anticipated initial public offering of Porsche AG are covered multiple times on the full size of the deal, a bookrunner involved in the listing said on Tuesday.

Indicated demand for the listing, due to take place on Sept. 29 at the Frankfurt Stock Exchange, exceeds the full deal size, the bookrunning said.

The subscription period for private and institutional investors kicked off on Tuesday and will run until Sept. 28, with shares offered to private investors in Germany, Austria, Switzerland, France, Italy and Spain.

The price range was being well-received on the market with a good global breadth of demand in the United States, Europe and Asia, a source close to the IPO said. It was too early for visibility on retail demand, they added.

Cornerstone investors have already laid claim to 40% of the shares on offer, including Qatar Investment Authority, which is buying 4.99% of the offering; Abu Dhabi's ADQ, which is investing 350 million euros; and T. Rowe Price and Norway's sovereign wealth fund, investing 750 million euros each.

Total proceeds from the sale will be 18.1-19.5 billion euros and could help Volkswagen fund its electrification drive.

https://www.investing.com/news/stock-ma ... er-2895278