Volkswagen Eyes Two More Brands Following Porsche Acquisition
German automaker Volkswagen said that it wants to add two more brands in the company making it a dozen marques under its belt.
VW executives announced the plans following the acquisition of another German sports car maker Porsche, saying that 12 names is better than 10 since it is easier to remember.
Europe’s largest car manufacturer Volkswagen AG on Tuesday announced plans of acquiring two additional brands to its collection of marques following the acquisition of another German automaker Porsche, a company executive said.
In a statement Supervisory Board Chairman Ferdinand Piech said that Volkswagen has clearly said its intention to acquire two other brands, which will sum up to a dozen marques under its control.
Popular names like Skoda, Seat, and Audi were among the most famous brands owned by VW. But the latest acquisition of the Porsche 911 sports car makes the company short of two to complete the dozen set of brands.
“It is already in discussion and to be honest, 12 is easier to remember than 10,” Piech told when asked to comment over the VW prospect.
It will be recalled that VW’s fate rested on the hands of Porsche as the German sports car maker vie to take over the largest carmaker in Europe. But the deal was shut down and now VW has turned the table by announcing the plan to take over the entire sports car manufacturing of Porsche.
VW already hold some 42 percent of Porsche AG shares while the remaining transfer of stocks will be completed by the end of 2009.
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