Also Read - Auto Expo 2020: Volkswagen Unveils Concept Electric Vehicle ID CROZZ
This is one development that is much talked about. But the merger of super-carmaker Porsche into the Volkswagen group has been delayed. The reason seems to be the ongoing lawsuits filed against them in US for financial manipulation, and is being investigated by German prosecutors. Porsche has denied any wrong doings, but the claim poses an enormous risk to VW in case of a merger, as suits seek USD 1.1 billion as damages. Also Read - Over 92,000 BSNL, MTNL Staff Opt For VRS. Here's Why
In the current scenario, it would be very difficult for Volkswagen to correctly estimate the value and exchange ratio and therefore the company is also looking at various other options to create an integrated car making group. Back in 2009, Porsche and VW had agreed to merge and the deal was to be executed by 2011. However, under the current circumstances, the company is wary of proceeding with the pact. Also Read - We Will Move Forward on Insurance PSUs Merger, Says Nirmala Sitharaman
The two companies have been associated with each other for a very long time and their collaboration has resulted in cars like Audi RS2, VW Touareg, Porsche Cayenne etc.