Metaverse

The future of Porsche, between Web3 and electric strategy

Eva Morletto

By Eva Morletto05 décembre 2022

Porsche is continuing its race for innovation. After its successful IPO, the luxury car manufacturer is strengthening its presence in the Web3 and is announcing the sale of 7,500 NFTs dedicated to one of its iconic models: the Porsche 911, on the occasion of Art Basel Miami.

The Taycan model that left the Porsche factory in 2019 sold 20,000 units in the first half of this year (Shutterstock)

The German company is clearly continuing to develop its Web3 strategy. The designer and 3D artist Patrick Vogel will accompany Porsche in this process, working on the customisation of the 150,000 possible variants of these NFTs. The price will be revealed by Porsche in the coming weeks.  It must be said that the company, characterised by constant structural growth for many years and a strong technological footprint today marked by electrification processes, is assuming an increasingly recognised leadership role in the luxury car sector. 

Porsche operates in more than 120 markets around the world, and in 2021 the brand recorded more than 302,000 deliveries.

The IPO last autumn marked a real turning point for the brand. It was the biggest stock market transaction in a decade and allowed the German giant to invest heavily in the development of electric models and in new software formulated to increase the energy performance of cars.

The share price rose to 84 euros, above the IPO price of 82.50 euros.  The Porsche group was thus valued at 76 billion euros, which allowed the CEO Oliver Blume to state that "a great dream is coming true for Porsche". The injection of liquidity has now made it possible to continue investing in new electric and autonomous models.

Volkswagen, the parent company, can count on the support of investment funds from Qatar and the United Arab Emirates, as well as the American asset manager T. Rowe Price, ranked by "Fortune 1000" as one of the 1,000 richest American companies. The Norwegian sovereign wealth fund is also among the most important shareholders. If Qatar is the major player, all these funds together represent 3.6 billion euros of shares. 

The financial windfall is enabling the company to work on several new electric cars: the Taycan sports model that came out of Porsche's factories in 2019 sold 20,000 units in the first half of this year. And 2024 should see the launch of a new SUV model, the Macan, powered entirely by electric power.

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