Volkswagen group chief Martin Witnerkorn has said that in his view the group will retain its independence even if it is taken over fully by Porsche.
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Speaking to a German newspaper at the weekend, he said that Volkswagen is one of the best known and well-respected brands of the world. This must be protected vehemently.
Winterkorn would however have no problem being head of a Porsche Holding subsidiary company. “If it came to this I would still be head of one of the most future-proof vehicle manufacturers in the world. In addition, beautiful daughters often appear more attractive to their mothers,” he said.
Winterkorn appeared to be open to closer cooperation with Porsche and sees opportunities in the area of vehicle electronics. He said that development requirements for electronics are high and there is good synergy potential if costs can be shared amongst a lot of vehicles.
Porsche is the largest shareholder in Volkswagen with a stake of around 31%. The company is expected to extend its influence over Volkswagen further with the repeal of the Volkswagen Law, which has limited maximum voting rights to 20%. Volkswagen and Porsche have so far cooperated to produce SUVs and they are developing hybrid drive technologies together.
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