the staff of the Ridgewood blog
Ridgewood NJ, soon you will be able to own stock the legendary German sports car company . Volkswagen Group, which owns brands like Volkswagen, Audi, Lamborghini, Bentley, and Porsche, is planning to take Porsche public in a listing that could value the brand anywhere between $60Billion to $85Billion.
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So why take Porsche public now? Volkswagen plans to spend $88Billion+ over the next five years on EV development, with the ambitious goal of having EVs represent a quarter of sales by the end of 2026.
The Porsche listing could raise $10B+ in capital and Porsche could use the funds to amp up its electrification efforts. Last year, Porsche’s Taycan EV actually surpassed its landmark 911 model in sales.
Fun fact: Tesla’s market cap is almost 10x as large as the Volkswagen Group’s, despite selling around a tenth of the cars in 2021.
Bloated, Soulless and soon to be Electric with No Manual Transmissions.
All character has been excised from Porsche decades ago.