According to recent reports, Porsche is trying to take out a $46.67 billion loan to finance its bid to take over Volkswagen. Recently Porsche announced that it was going to raise its current stake in VW to above 30%. This was seen as a way to stop any future takeovers of the VW brand.
Porsche previously hinted that they wanted to position the company as a competitor to Toyota, which is set to become the largest auto maker in the World.
According to Porsche’s CEO Wieleking: "We opened the game. Other players are either striking out against us or joining us in our moves and now everybody not acquainted with the tactics we have carefully considered in advance is feeling nervous. VW, with all its brands, is the only one with the potential to stand up to Toyota."
What does this all mean? Do you think that a German powerhouse that includes Porsche, VW, Audi, etc. will be able to take on Toyota? Should be interesting. Bring on the automotive wars!
Full Story: egmcartech
