The maker of the iconic 911 sports car is also taking the digitization path, by forming a new subsidiary to develop mobility solutions.
The Supervisory Board of Volkswagen’s most profitable division has approved the founding of Porsche Digital GmbH, a unit that aims “to further develop Porsche as the leading provider of digital mobility solutions in the premium automotive segment.” The newly formed subsidiary will be headed by Thilo Koslowski, who is considered an expert in the automotive, internet and technology sectors and who recently joined the premium brand from the United States IT consulting company Gartner Inc. Digital GmbH will be headquartered in Ludwigsburg near Stuttgart, with further affiliated offices to be located in Berlin, China and Silicon Valley, where the operation will be a part of Porsche Cars North America.
“Our business environment is changing ever more dynamically,” said Wolfgang Porsche, Supervisory Board chairman and part of Porsche family dynasty. “Porsche Digital GmbH will strengthen the brand, develop innovative customer experiences, and attract new partners. We are combining the traditional Porsche spirit with the power of new technologies.” Porsche said there are also plans for equity holdings in venture capital funds and start-ups which “offer opportunities for close collaboration with innovative, high-growth companies, talents, and new technologies.”
Meanwhile, the premium brand remained on a successful financial trajectory at the start of the current fiscal year, reporting a higher operating profit (895 million euros), rising at a much faster pace than sales revenue. For the period, Porsche’s operating margin was 16.6 percent, up from 15.1 percent.