The Porsche logo is seen during the unveiling of the 2020 Porsche 911 Speedster at the 2019 New York International Auto Show in New York April 17, 2019. (Brendan McDermid/Reuters)
MUNICH — Despite market volatility, Volkswagen is still working towards an initial public offering (IPO) for Porsche in the fourth quarter, which would give the luxury brand more freedom, the German automaker’s chief financial officer said on Wednesday.
“We are optimistic that we can continue with this project in the fourth quarter,” said Chief Financial Officer Arno Antlitz at the Reuters Automotive Europe conference in Munich. “Porsche would gain entrepreneurial freedom, we can expect a lot from them.”
He added that there is still plenty of investor interest and capital available for an IPO.
“All the reasons why we should pursue this project are still there,” he said.
Like other major automakers, world No. 2 Volkswagen is in the midst of an expensive transition to electric vehicles.
By Ilona Knowledge Bach
consequences
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