Ambitious VW buys Porsche
GERMANY'S Volkswagen has snapped up the rest of sportscar maker Porsche in a bid to become the world’s leading car manufacturer.
VW agreed to buy the half of the company it did not already own for £3.6billion after buying its first stake in 2009.
VW chief executive Martin Winterkorn said: “Together we are more capable than ever of becoming the best auto company on the planet.”
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Joint projects already under way include Porsche’s next model, the Macan compact SUV, due in 2014.
VW also plans to make some Porsches in its own plants.