(Bloomberg) – The billionaire family that controls Porsche AG and Volkswagen may make a third-nuclear investment as automakers work on trade tensions and growing demand.
It said Wednesday that Porsche car company Holding SE, a listed holding company of the Porsche Piëch clan, is considering investing in industries near the mobility and industrial technology sectors.
“We are also studying defense, we are also studying infrastructure,” Chief Financial Officer Johannes Lattwein said in a discussion of the revenue of the Porsche SE.
The family is considering the move when Volkswagen and Porsche compete with China’s sales drop and the threat of U.S. tariffs. The holding company cut its dividend Wednesday after reporting a net loss of 20 billion euros ($21.6 billion) for non-cash damages related to Volkswagen and Porsche Holdings. Oliver Blume, the two automakers, has put more pressure on them.
Chairman Hans Dieter Pötsch said on Wednesday that Porsche SE has no intention of selling any of its Volkswagen shares. The company denied a Bild report saying the family is considering reducing its 53% stake in the automaker. Any decision requires consensus within the clan, which points out dozens of descendants, few of whom play an active role in the automotive business.
It said on Wednesday that the Porsche SE has 2 billion euros ($2.16 billion) in liquidity and does not intend to assume additional debt from another investment. Lutz Meschke until recently served as Chief Financial Officer of Porsche Automakers, where he served as the management committee of the holding company and oversees the expansion of its non-core portfolio.
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