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In July 2012, Volkswagen completed takeover of Porsche ending the four-year saga and formed an integrated automotive group with Porsche. Porsche AG would become the 10th brand of Volkswagen. The holding company Porsche SE was left with 31 percent of the subscribed capital of Volkswagen AG, and 50.7 percent of the voting rights in the company. [125]
The two companies collaborated in 1969 to make the VW-Porsche 914 and 914-6, whereby the 914-6 had a Porsche engine, and the 914 had a Volkswagen engine. Further collaboration in 1976 resulted in the Porsche 912E (US only) and the Porsche 924, which used many Audi components, and was built at Audi's Neckarsulm factory, which had been NSU's.
A new plant is being built for Audi FAW NEV Company Ltd., which will build Audi EV's on the PPE platform & is majority (60%) owned by Audi and by VW China. Production is due to begin in 2024. 43°50′34″N 125°11′48″E / 43.84278°N 125.19667°E / 43.84278; 125.19667 ( FAW-Volkswagen Changchun
After the launch of the Audi 100 of 1968, the Audi 80/Fox (which formed the basis for the 1973 Volkswagen Passat) followed in 1972 and the Audi 50 (later rebadged as the Volkswagen Polo) in 1974. The Audi 50 was a seminal design because it was the first incarnation of the Golf/Polo concept, one that led to a hugely successful world car.
Under him and his successor as president of Volkswagen of America, J. Stuart Perkins, VW's U.S. sales grew to 569,696 cars in 1970, an all-time peak, when Volkswagen captured 7 percent of the U.S. car market and had over a thousand American dealerships. The Volkswagen Beetle was the company's best seller in the United States by a wide margin.
In January 2009, Porsche SE became the largest shareholder of Volkswagen AG, and in March 2011, Porsche SE as well as the Porsche and Piëch families sold the ownership in the Austrian company, which had been reorganized into Porsche Holding GmbH (Porsche Holding Salzburg), to Volkswagen AG. Today, Porsche Holding Salzburg is the largest car ...
On 5 July 2012, Volkswagen AG announced a deal with Porsche resulting in VW's full ownership of Porsche on 1 August 2012. The deal was classified as a restructuring rather than a takeover due to the transfer of a single share as part of the deal. Volkswagen AG paid Porsche shareholders $5.61 billion for the remaining 50.1% it did not own. [15] [16]
The 924 was originally designated for AUDI. Most Porsche 944 models were built there, although they used far fewer VW components. The Porsche Cayenne, introduced in 2002, shares its entire chassis with the Volkswagen Touareg and Audi Q7, and is built at the same Volkswagen factory in Bratislava that the other SUVs are built.