Mobility
Porsche to close three subsidiaries, to source EV batteries externally
Porsche will close three subsidiaries as part of steps to respond to falling sales and weakening profitability, TechCrunch reported on Thursday. The closures include battery unit Cellforce Group, e-bike drive system maker Porsche eBike Performance and networking software supplier Cetitec. Porsche previously scrapped plans to produce its own batteries and will now pursue a technology-open powertrain strategy that sources batteries from external companies.
