VW has officially taken a 49.9% stake in Porsche. That's a shame, cause I really like Porsches... Below you can read an interesting and at the same time scary part from VW's press release.
"Following the Comprehensive Agreement concluded in August, the implementation agreements signed in November and the Volkswagen Extraordinary General Meeting held last week, the stake in Porsche AG represents the next milestone on the way towards the integrated automotive group with Porsche under the leadership of Volkswagen. The acquisition of the trading business of Porsche Holding Salzburg is planned for 2011. The creation of the integrated automotive group is then to conclude with the merger of Volkswagen AG and Porsche SE during the course of the same year."
Rumours suggest that VW wants Porsche to sell 150,000 vehicles per year by 2013. In order to do so, Porsche will likely add several new models including an entry-level roadster, a small crossover (possibly based on the Audi Q5) and a Panamera-based coupe.
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