Audi Ag, VW’s premium brand on Friday said is acquiring a 91 percent stake in PSW automotive engineering GmbH in order to increase its development capacity.
According to Audi, PSW automotive engineering GmbH has been supplying the automotive industry since 1988.
This year, the Bavarian government acknowledged the achievements of the concept development specialist for the second time by including it in the “Bavaria’s BEST 50” list. The family-run firm has more than 550 employees at locations in Gaimersheim, Munich, Neckarsulm and Wolfsburg.
One example of the successful partnership is the Audi A5 Sportback, in the development of which PSW’s specialists played an instrumental role.
Managing Director Dr. Harry Wagner is delighted at the stronger ties between the two companies: “We have a very well-qualified and efficient team that will be able to make a real difference for Audi.”
“We want to build on the successful work we have done with this expert partner,” declared Michael Dick, Member of the Board of Management of AUDI AG for Technical Development: “This investment is about extending a strategic partnership with a development service provider that has long been successfully assisting us in the areas of concept and production development.”
The investment in PSW automotive engineering GmbH is currently being examined by the relevant antitrust authorities.