EQS-News: Porsche sharpens focus on core business

Porsche sharpens focus on core business

• The Executive Board and Supervisory Board of Dr. Ing. h.c. F. Porsche AG have resolved far-reaching measures as part of the company’s strategic realignment.
• Subsidiaries Cellforce Group GmbH, Porsche eBike Performance GmbH and Cetitec GmbH are to be discontinued.
• In total, more than 500 employees are affected by the planned job reductions.
• CEO Dr. Michael Leiters: “Porsche must refocus on its core business. This is the indispensable foundation for a successful strategic realignment. This forces us to make painful cuts — including our subsidiaries.”

Stuttgart. Following the planned sale of its stakes in Bugatti Rimac and the Rimac Group, Dr. Ing. h.c. F. Porsche AG is implementing further extensive measures as part of its strategic realignment: the subsidiaries Cellforce Group GmbH, based in Kirchentellinsfurt, Porsche eBike Performance GmbH, based in Ottobrunn, and Cetitec GmbH, based in Pforzheim, are to be discontinued. In total, more than 500 employees are affected. Dr. Michael Leiters, Chairman of the Executive Board of Porsche: “We must refocus on our core business. This is the indispensable foundation for a successful strategic realignment. This forces us to make painful cuts — including our subsidiaries.”
 

Cellforce Group GmbH

As part of Porsche AG’s strategic realignment and its technology-open powertrain strategy, Cellforce GmbH no longer has a sufficiently viable long-term perspective. The management will therefore initiate discussions with the works council regarding the closure of the company. Around 50 employees are affected.
 

Porsche eBike Performance

Porsche eBike Performance GmbH was established to develop high-performance e-bike drive systems and market them worldwide. Due to fundamentally changed market conditions for e-bike drive systems, the activities of the joint venture will be discontinued. This measure is in line with Porsche AG’s strategic focus on its core business. The closure of operations at the Ottobrunn and Zagreb sites affects around 360 employees.
 

Cetitec GmbH

Cetitec GmbH, based in Pforzheim, developed specialized software for data communication for Porsche and the entire Volkswagen Group. Here, too, the market environment has changed and development scopes have shifted. The management of Cetitec GmbH will therefore initiate discussions with the works council regarding the closure of the company. Around 60 employees in Germany and 30 in Croatia are affected.