The investment includes $1 billion to upgrade company’s existing US manufacturing facility and $700 million to build a new high-voltage battery assembly facility
German automaker
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ADQ
Porsche rises in the headwind; landmark $72 billion listing is a big success
Shares rose nearly 3 percent and closed at $81.88; the biggest listing in Germany in 26 years; Abu Dhabi’s ADX and Qatar’s QIA among cornerstone investors
Frankfurt Stock Exchange
Volkswagen targets $9.4 billion raise in Porsche IPO
The initial public offering (IPO) is the largest of its kind in Europe in over a decade and is expected to reopen European markets, which have been impacted from the ongoing Ukraine-Russia conflict, inflation and high interest rates
automobile industry
Volkswagen to list biggest Porsche IPO, valuing sports carmaker at $84 billion
The offering could value Porsche between 60 billion and 85 billion euros ($84 billion), and is targeted for the end of September or beginning of October and is expected to be completed by year end, subject to capital market conditions
automotive industry
Porsche Cayenne GTS: The most sensible midlife crisis car you can buy
The Cayenne GTS is a SUV packed full of adventurous, playful touches that speak to the young or the young at heart, while also having speed galore
audi
In pictures: Audi R8’s rear-wheel-drive sports model
The Audi R8 V10 RWD and the Audi R8 LMS GT4 racing car with a new look.
BMW
Gallery: The brand new BMW M8 Competition Coupe
Fast responses, a thirst for revs, and sustained power delivery: V8 engine with signature M performance traits.
ABB FIA Formula E Championship 2019/2020
Gallery: Porsche reveals 99X Electric Formula E racing car
Porsche and TAG Heuer look back on successful collaboration in motorsport.
automobile industry
Dr. Hamid Haqparwar continues to drive the BMW business and sales across the region
Brand View: Dr. Hamid Haqparwar is responsible for driving the BMW Group business and sales forward across 13 markets in the Middle East
automobile industry
Gallery: Porsche unveils new entry-level 911 Carrera Coupe and Cabriolet
With the new 911 Carrera Coupe and 911 Carrera Cabriolet, Porsche is expanding its eighth-generation as entry-level 911s, these models share all the premium features of the Carrera S, plus 15 PS more power output than its 911 predecessor and a brand-new design.
German automaker
Video: Porsche Middle East and Africa’s new CEO outlines plans for growth in the region
Manfred Braunl, the newly appointed CEO of Porsche Middle East and Africa FZE (Free Zone Establishment) discusses the sports car market in the region. He also comments on the region’s most sold model and his ambitions for the remainder of 2019.
car sales
Fraud probe said to target top Porsche bosses
Three top executives at Porsche are reportedly under investigation over alleged excessive payments
Auto Shanghai 2019
Gallery: Volkswagen unveils zero-emission SUV
Volkswagen unveiled the newest member of the ID Family – the ID ROOMZZ in Shanghai. The series version of the ID ROOMZZ which is equally suitable for families and business use, is scheduled to take to the road from 2021.
BMW AG
BMW Middle East appoints new MD
Dr Hamid Haqparwar is currently director of sales and marketing at BMW Group Middle East