The Grasshopper is now the Master: Porsche Owns 51% of VW
Porsche and Wolkswagen have always had a very close relationship, with parts sharing dating back to their beginnings. This relationship is further emphasized when considering that Ferdinand Porsche also designed the iconic people’s car Volkswagen Beetle. In March of 2007 Porsche upped its stakes in VW to 31% officially triggering rumors of an eventual takeover. Well according the the Detroit News the VW Auto Group Supervisory Board has just given its approval for Porsche to take majority ownership of the company moving to 51% to VW’s 49% at a cost of approximately $20 billion from Porsche’s pocketbooks. The move has been anticipated for some time now, and with it finally going through parts sharing between the two automakers will probably be even greater.
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