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Porsche benefits from being part of Volkswagen, CEO says

10 November 2021 - 15:04 By Reuters
Oliver Blume, CEO of Porsche AG.
Oliver Blume, CEO of Porsche AG.
Image: Sascha Schuermann/Getty Images

Porsche AG, part of the Volkswagen Group, profits from being part of Volkswagen, its CEO Oliver Blume said on Wednesday, after speculation that an IPO of the luxury unit could be on the cards.

"We feel very comfortable in the Volkswagen Group, we can profit from synergies. The important thing in this time is to focus on transformation," Blume said, speaking at a car industry conference organised by publication Automobilwoche in Ludwigsburg, Germany.

Germany's Manager Magazin reported in October that investment bank Goldman Sachs and law firm Freshfields were among advisers working on a possible listing of the unit.

Volkswagen's CEO Herbert Diess said on October 28 the company was constantly reviewing its portfolio but provided no further comment.