Porsche announces streamlining of three subsidiaries, refocusing on core business.

On May 9th, Porsche announced the streamlining of three subsidiary companies. Following the plans to sell its shares in Bugatti Rimac and Rimac Group, the company is implementing further measures around strategic restructuring: Cellforce Group GmbH, Porsche eBike Performance GmbH, and Cetitec GmbH will cease operations. More than 500 employees will be affected by this move. Matthias Mller, Chairman of the Porsche Executive Board, said: "We must refocus on our core business, which is essential for the success of our strategic restructuring. Therefore, we have had to make difficult decisions, including streamlining our subsidiary companies."