Porsche Shutters E-bike, Battery, Software Subsidiaries As Part Of Company Overhaul
Lloyd
Porsche Shutters E-bike, Battery, Software Subsidiaries As Part Of Company Overhaul
Porsche is making some of the biggest cuts in its recent history as the luxury automaker struggles with declining sales, slowing profits, and mounting pressure in the electric vehicle market. The company confirmed it will shut down three subsidiaries tied to batteries, e-bikes, and software development, leaving more than 500 employees without jobs. The move signals a dramatic shift in Porsche’s long-term EV strategy and raises new questions about the future of premium electric vehicles in Europe and China. Porsche Begins Major Company Overhaul The German automaker announced that it will close Cellforce Group, Porsche eBike Performance, and Cetitec as part of a broader restructuring effort aimed at refocusing the company on its core operations. The decision comes after months of financial strain and slowing momentum across several key global markets. Porsche leadership described the closures as painful but necessary. Company executives said the brand must become leaner and more efficient …
