The German holding company aims to invest in new areas after a €20 billion loss last year
The German automotive company Porsche SE is considering returning to the defense business. The German media Esut reported that, after billion-dollar losses last year, both in its own group and in Volkswagen, the holding company is seeking new areas of activity.
The German holding company Porsche Automobil Holding SE (Porsche SE) posted a net loss of €20 billion in 2024. It is the majority shareholder of Volkswagen and also holds 25% of Porsche AG’s shares.
Managers are insisting on strict cost-cutting measures. Therefore, they are looking for new business areas.
Since 1958, the company Dr. Ing. hc F. Porsche GmbH has been involved in developing a new tank for the Bundeswehr, particularly in the chassis area.
After its official commissioning in October 1963, the new battle tank was called the Leopard and delivered to the military. In addition, Porsche also attempted to secure an order from the young Federal Republic for the Porsche Type 597 off-road vehicle.
In 1953, the German government announced a tender for the construction of an off-road vehicle for the military. Porsche showed interest in this tender and presented its prototype.
Although Porsche outperformed its competitors, the German armed forces chose the DKW Munga, which was cheaper. The Porsche 597 Jagdwagen became the company’s first off-road vehicle in history.
Meanwhile, Rolls-Royce Power Systems AG is working on developing a new alternative engine for the Leopard 2 tank.
Source and images: MilitaryNyi / X @QuirkyRides. This content was created with the help of AI and reviewed by the editorial team.
