Editing Porsche (section)

=== Developments ===
[[File:1953-porsche-archives.jpg|thumb|1952 Porsche 356 K/9-1 prototype]]

In post-war Germany, parts were generally in short supply, so the 356 automobile used components from the Volkswagen Beetle, including the engine case from its [[internal combustion engine]], [[transmission (mechanics)|transmission]], and several parts used in the [[suspension (vehicle)|suspension]]. The 356, however, had several evolutionary stages, A, B, and C, while in production, and most Volkswagen-sourced parts were replaced by Porsche-made parts. Beginning in 1954 the 356s engines started utilizing engine cases designed specifically for the 356. The sleek bodywork was designed by [[Erwin Komenda]], who also had designed the body of the Beetle. Porsche's signature designs have, from the beginning, featured air-cooled rear-engine configurations (like the Beetle), rare for other car manufacturers, but producing automobiles that are very well balanced.

In 1964, after a fair amount of success in [[auto racing|motor-racing]] with various models including the [[Porsche 550|550 Spyder]], and with the 356 needing a major re-design, the company launched the [[Porsche 911]]: another [[air-cooled engine|air-cooled]], [[rear-engine design|rear-engined]] sports car, this time with a six-cylinder [[flat engine|"boxer" engine]]. The team to lay out the body shell design was led by Ferry Porsche's eldest son, [[Ferdinand Alexander Porsche]] (F. A.). The design phase for the 911 caused internal problems with Erwin Komenda, who led the body design department until then. F. A. Porsche complained Komenda made unauthorized changes to the design. Company leader Ferry Porsche took his son's drawings to neighbouring chassis manufacturer Reuter. Reuter's workshop was later acquired by Porsche (so-called Werk 2). Afterward, Reuter became a seat manufacturer, today known as [[Recaro|Keiper-Recaro]].
[[File:Porsche 912 Coupe in the Porsche-Museum (2009) IMG 2730.jpg|thumb|The [[Porsche 912]], from the 1960s]]
The design office gave sequential numbers to every project (See [[Porsche type numbers]]), but the designated 901 nomenclature contravened [[Peugeot]]'s trademarks on all 'x0x' names, so it was adjusted to 911. Racing models adhered to the "correct" numbering sequence: 904, 906, 908. The 911 has become Porsche's most well-known model – successful on the race-track, in [[rallying|rallies]], and in terms of road car sales. It remains in production; however, after several generations of revision, current-model 911s share only the basic mechanical configuration of a rear-engined, six-cylinder [[coupé]], and basic styling cues with the original car. A cost-reduced model with the same body, but with a 356-derived four-cylinder engine, was sold as the 912.

In 1972, the company's legal form was changed from ''[[Kommanditgesellschaft]]'' (KG), or limited partnership, to ''[[Aktiengesellschaft]]'' (AG), or public limited company, because Ferry Porsche came to believe the scale of the company outgrew a "family operation", after learning about [[Soichiro Honda]]'s "no family members in the company" policy at [[Honda]]. This led to the establishment of an executive board with members from outside the Porsche family, and a supervisory board consisting largely of family members. With this change, most family members in the operation of the company, including F. A. Porsche and Ferdinand Piëch, departed from the company.

F. A. Porsche founded his own design company, [[Porsche Design]], which is renowned for exclusive sunglasses, watches, furniture, and many other luxury articles. Louise's son and Ferry's nephew [[Ferdinand Piëch]], who was responsible for mechanical development of Porsche's production and racing cars (including the very successful [[Porsche 911|911]], [[Porsche 908|908]] and [[Porsche 917|917]] models), formed his own engineering bureau, and developed a [[straight-five engine|five-cylinder-inline]] [[diesel engine]] for [[Mercedes-Benz]]. A short time later he moved to [[Audi]] (used to be a division, then a subsidiary, of Volkswagen), and pursued his career through the entire company, ultimately becoming the chairman of [[Volkswagen Group]].

The first chief executive officer (CEO) of Porsche AG was [[Ernst Fuhrmann]], who had been working in the company's engine development division. Fuhrmann was responsible for the so-called Fuhrmann-engine, used in the 356 Carrera models as well as the 550 Spyder, having [[Double overhead camshaft|four overhead camshafts]] instead of a central camshaft with pushrods, as in the Volkswagen-derived serial engines. He planned to cease the 911 during the 1970s and replace it with the [[V8 engine|V8]]-[[Front-engine, rear-wheel-drive layout|front engined]] grand sportswagon [[Porsche 928|928]]. As we know today, the 911 outlived the 928 by far. Fuhrmann was replaced in the early 1980s by [[Peter W. Schutz]], an American manager and self-proclaimed 911 aficionado. He was then replaced in 1988 by the former manager of German computer company [[Nixdorf Computer|Nixdorf Computer AG]], [[Arno Bohn]], who made some costly miscalculations that led to his dismissal soon after, along with that of the development director, [[Ulrich Bez]], who was formerly responsible for BMW's [[BMW Z1|Z1]] model, and was CEO of [[Aston Martin]] from 2000 to 2013.<ref>{{Cite news|url=http://www.motorauthority.com/news/1083889_aston-martin-ceo-ulrich-bez-to-step-down-report|title=Aston Martin CEO Ulrich Bez To Step Down: Report|work=Motor Authority|access-date=9 April 2017|language=en|archive-url=https://web.archive.org/web/20170410050853/http://www.motorauthority.com/news/1083889_aston-martin-ceo-ulrich-bez-to-step-down-report|archive-date=10 April 2017|url-status=dead}}</ref>

[[File:Classic Moto Show 2014 (115).JPG|thumb|Porsche 911 ([[Porsche 964|964]]), introduced in 1989, was the first to be offered with Porsche's [[Tiptronic]] transmission and four-wheel drive.]]
In 1990, Porsche drew up a memorandum of understanding with [[Toyota]] to learn and benefit from Japanese [[lean manufacturing]] methods. In 2004 it was reported that Toyota was assisting Porsche with [[hybrid electric vehicle|hybrid technology]].<ref>{{cite web |author=Nexteer Automotive Poland president Rafal Wyszomirski |url=http://www.just-auto.com/news/porsche-asks-for-toyota-hybrid-technology_id71109.aspx |title=Just auto 23 November 2004 |publisher=Just-auto.com |access-date=1 August 2011 |archive-date=27 September 2011 |archive-url=https://web.archive.org/web/20110927153453/http://www.just-auto.com/news/porsche-asks-for-toyota-hybrid-technology_id71109.aspx |url-status=dead }}</ref>

Following the dismissal of Bohn, [[Heinz Branitzki]], a longtime Porsche employee, was appointed as interim CEO. Branitzki served in that position until [[Wendelin Wiedeking]] became CEO in 1993. Wiedeking took over the chairmanship of the board at a time when Porsche appeared vulnerable to a takeover by a larger company. During his long tenure, Wiedeking transformed Porsche into a very efficient and profitable company.

Ferdinand Porsche's nephew, Ferdinand Piëch, was chairman and CEO of the [[Volkswagen Group]] from 1993 to 2002 and is chairman of the Volkswagen AG Supervisory Board since then. With 12.8 percent of the Porsche SE voting shares, he also remains the second-largest individual shareholder of Porsche SE after his cousin, F. A. Porsche, which had 13.6 percent.

Porsche's 2002 introduction of the Cayenne also marked the unveiling of a new production facility in [[Leipzig]], [[Free State of Saxony|Saxony]], which once accounted for nearly half of Porsche's annual output. In 2004, production of the {{convert|456|kW|PS bhp|0|lk=on}} [[Porsche Carrera GT|Carrera GT]] commenced in Leipzig, and at EUR 450,000 ($440,000 in the United States) it was the most expensive production model Porsche ever built.

[[File:Toulousaine de l'automobile - 7425 - Porsche 911 Carrera (2011).jpg|thumb|left|Porsche 911 (991)]]
In mid-2006, after years of the Boxster (and later the Cayenne) as the best selling Porsche in North America, the 911 regained its position as Porsche's best-seller in the region. The Cayenne and 911 have cycled as the top-selling model since. In Germany, the 911 outsells the Boxster/Cayman and Cayenne.<ref>{{cite press release|url=http://www.porsche.com/usa/aboutporsche/pressreleases/pag/archive2006/quarter3/|title=Porsche USA press release|date=11 September 2006}}</ref>

In May 2011, Porsche Cars North America announced plans to spend $80–$100 million, but will receive about $15 million in economic incentives to move their North American headquarters from [[Sandy Springs]], a suburb of [[Atlanta]], to [[Aerotropolis Atlanta]], a new mixed-use development on the site of the old [[Atlanta Assembly|Ford Hapeville plant]] adjacent to [[Hartsfield–Jackson Atlanta International Airport]].<ref>{{cite news|author=Urvaksh Karkaria |url=http://www.bizjournals.com/atlanta/blog/atlantech/2011/05/porsche-gets-3m-in-incentives.html |title="Porsche HQ relo draws $15M in incentives", Atlanta Business Chronicle, 2011-05-12 |publisher=Bizjournals.com |date= 12 May 2011|access-date=1 August 2011}}</ref> Designed by architectural firm [[Hellmuth, Obata and Kassabaum|HOK]], the headquarters will include a new office building and test track.<ref>{{cite web|last=Tobin |first=Rachel |url=https://www.ajc.com/business/porsche-north-america-leave-sandy-springs-for-ford-plant/03IwRyDxEPNwqps41mbmNN/ |title=Porsche North America HQ to leave Sandy Springs for ex-Ford plant |publisher=ajc.com |date=11 May 2011 |access-date=1 August 2011}}</ref><ref>{{cite web|url=http://www.atlantaga.gov/media/nr_porsche_051211.aspx |title="Mayor Kasim Reed and Governor Nathan Deal Announce Porsche to Build New U.S. Headquarters in Metropolitan Atlanta", City of Atlanta Online |publisher=Atlantaga.gov |access-date=1 August 2011 |url-status=dead |archive-url=https://web.archive.org/web/20110611040446/http://www.atlantaga.gov/media/nr_porsche_051211.aspx |archive-date=11 June 2011 }}</ref><ref>{{cite news|last=Patton |first=Phil |url=https://www.nytimes.com/2011/11/20/automobiles/porsche-to-build-in-atlanta-and-california.html?_r=1 |title=Porsche to Build in Atlanta and California |newspaper=The New York Times |date=18 November 2011 |access-date=30 November 2011}}</ref> The facility will be known by its new address, One Porsche Drive.

In October 2017, Porsche Cars North America announced the launch of Porsche Passport,<ref>{{Cite web|url=http://www.porschepassport.com/|title=Porsche Passport|date=14 February 2018|access-date=31 December 2021|archive-date=14 February 2018|archive-url=https://web.archive.org/web/20180214144349/http://www.porschepassport.com/|url-status=dead}}</ref> a new sports [[Vehicle subscription|car and SUV subscription program]]. This new offering allows consumers to access Porsche vehicles through subscribing to the service, rather than owning or leasing a vehicle. The Porsche Passport service was available initially in [[Atlanta]],<ref>{{Cite web|url=http://press.porsche.com/news/release.php?id=1050|title=Porsche Launches New Sports Car and SUV Subscription Program|website=press.porsche.com|access-date=7 February 2018|archive-url=https://web.archive.org/web/20180208004345/http://press.porsche.com/news/release.php?id=1050|archive-date=8 February 2018|url-status=dead}}</ref><ref>{{Cite news|url=https://www.bloomberg.com/view/articles/2017-10-20/porsche-s-passport-to-the-new-mobility|title=Porsche's Passport to the New Mobility|date=20 October 2017|work=Bloomberg.com|access-date=7 February 2018|language=en}}</ref> and has become available in many major cities across the US.<ref>{{Cite web |title=Porsche Subscription - Porsche USA |url=https://www.porsche.com/usa/accessoriesandservices/porschedrive/subscription/ |access-date=3 October 2023 |website=Porsche HOME - Porsche USA |language=en-US}}</ref>

During the [[COVID-19 pandemic]], in March 2020, Porsche suspended its manufacturing in Europe for two weeks, "By taking this step, the sports car manufacturer is responding to the significant acceleration in the rate of infection caused by the coronavirus and the resultant measures implemented by the relevant authorities."<ref>{{cite web|url=https://www.businessinsider.com/coronavirus-porsche-suspends-production-europe-due-to-covid-19-outbreak-2020-3|title=Porsche is suspending production in Europe amid worsening coronavirus outbreak|publisher=[[Business Insider]]|access-date=18 March 2020}}</ref>

In August 2022, ''[[Bloomberg News]]'' reported that Porsche has lined up interest in subscription of its [[initial public offering]] for a valuation between US$60{{ndash}}85{{nbsp}}billion. It is expected to be listed on [[Frankfurt Stock Exchange]] in September.<ref>{{cite news |url=https://www.bloomberg.com/news/articles/2022-08-26/porsche-lines-up-ipo-demand-at-up-to-85-billion-valuation |title=Porsche Attracts IPO Demand at Up to $85 Billion Valuation |date=26 August 2022 |work=[[Bloomberg News]] |first1=Eyk |last1=Henning |first2=Jan-Henrik |last2=Foerster |url-access=limited |archive-url=https://archive.today/20220827070238/https://www.bloomberg.com/news/articles/2022-08-26/porsche-lines-up-ipo-demand-at-up-to-85-billion-valuation |archive-date=27 August 2022 |url-status=live
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