Volkswagen and Porsche Integrated Automotive Group finalized

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After what feels like an eternity, it has finally happened; the Integrated Automotive Group between Volkswagen and Porsche has finally been approved.

We’re clearly too simple to understand the full nitty-gritty of the partnership, but we can tell you that yesterday, Volkswagen and Porsche SE paid out €4.49 billion to acquire a 50.1 percent stake in Porsche AG, meaning Volkswagen now owns 100 percent of the shares of Porsche AG.

“The path is now finally clear for a bright future together. Even closer cooperation will enable us to significantly strengthen Volkswagen and Porsche, and further expand the Group’s product portfolio with fascinating new vehicles”, said Volkswagen CEO Martin Winterkorn.

Volkswagen is already responsible for the production of the Porsche Panamera’s body, and the forthcoming Macan will also utilize the Wolfsburg giant’s manufacturing premises, so don’t be surprised to see further collaborations in the future. Perhaps it’s time to put that 650 hp mid-engined Golf into production…

[Source: Volkswagen]

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