PORSCHE AUTOMOBIL HOLDING SE

(PAH3)
  Report
Delayed Xetra  -  11:35 2022-08-15 am EDT
69.94 EUR   -0.20%
08/15Biden to sign law on Tuesday cutting most current EV credits
RE
08/12Audi, Porsche, Kia say U.S. EV buyers will lose tax credit under legislation
RE
08/12Porsche 99X Electric with new livery at the Formula E season finale in Seoul
AQ
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Volkswagen's software unit to be streamlined, Cariad head tells FAZ

07/04/2022 | 03:15am EDT
VW logo at 2022 New York International Auto Show

BERLIN (Reuters) - Volkswagen's software unit Cariad will be streamlined in efforts to step up the pace of software development, Dirk Hilgenberg, the head of the unit, told the Frankfurter Allgemeine Zeitung newspaper on Monday.

"The time for unanimous decisions is over, because that's not how we get horsepower on the road," said Hilgenberg, adding: "We have now established processes in which the roles are clearly distributed and Cariad is trimmed for speed."

Cariad, a core part of Volkswagen's plans to catch up with Tesla in coming years, has been wrestling with difficulties for a while, causing important projects to fall behind schedule and Porsche and Audi models to start up later.

For the future E3 2.0 unified platform, "Cariad is in the driver's seat and the VW brand is in the passenger seat - with Audi and Porsche on board," Hilgenberg told the newspaper.

He added that shareholdings would be used more effectively as well, including through acquisitions and majority stakes.

(Writing by Miranda Murray; editing by Matthias Williams)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
PORSCHE AUTOMOBIL HOLDING SE -0.20% 69.94 Delayed Quote.-16.18%
TESLA, INC. 3.10% 927.96 Delayed Quote.-12.19%
VOLKSWAGEN AG 1.15% 150.02 Delayed Quote.-15.47%
All news about PORSCHE AUTOMOBIL HOLDING SE
08/15Biden to sign law on Tuesday cutting most current EV credits
RE
08/12Audi, Porsche, Kia say U.S. EV buyers will lose tax credit under legislation
RE
08/12Porsche 99X Electric with new livery at the Formula E season finale in Seoul
AQ
08/12Porsche becomes long-term cooperation partner of Soho House
AQ
08/10Volkswagen's new CEO plans to shrink management board - sources
RE
08/10EXCLUSIVE : Volkswagen's new CEO plans to downsize the management board - sources
RE
08/09Street fighter
AQ
08/08Porsche Automobil Holding SE Reports Earnings Results for the Half Year Ended June 30, ..
CI
08/08GLOBAL MARKETS LIVE : Tesla, Pfizer, CVS Health, Amazon, Credit Suisse...
MS
08/08PORSCHE AUTOMOBIL : Group result after tax amounts to 3.24 billion euro in the first half ..
PU
More news
Analyst Recommendations on PORSCHE AUTOMOBIL HOLDING SE
More recommendations
Financials
Sales 2022 134 M 136 M 136 M
Net income 2022 5 552 M 5 653 M 5 653 M
Net cash 2022 426 M 434 M 434 M
P/E ratio 2022 4,51x
Yield 2022 5,71%
Capitalization 21 505 M 21 897 M 21 897 M
EV / Sales 2022 157x
EV / Sales 2023 140x
Nbr of Employees 35
Free-Float 50,0%
Chart PORSCHE AUTOMOBIL HOLDING SE
Duration : Period :
Porsche Automobil Holding SE Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends PORSCHE AUTOMOBIL HOLDING SE
Short TermMid-TermLong Term
TrendsBullishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 12
Last Close Price 70,12 €
Average target price 103,83 €
Spread / Average Target 48,1%
EPS Revisions
Managers and Directors
Hans Dieter P÷tsch Chairman-Management Board & CFO
Wolfgang Porsche Chairman-Supervisory Board
Manfred D÷ss Head-Legal Affairs & Compliance
Lutz Meschke Head-Investment Management
Ulrich Lehner Member-Supervisory Board
Sector and Competitors
1st jan.Capi. (M$)
PORSCHE AUTOMOBIL HOLDING SE-16.18%21 897
TOYOTA MOTOR CORPORATION1.40%218 730
VOLKSWAGEN AG-15.47%91 115
MERCEDES-BENZ GROUP AG-10.40%66 836
FORD MOTOR COMPANY-21.43%65 047
GENERAL MOTORS COMPANY-32.80%57 564