car industry
Porsche establishes a subsidiary in Norway
The Porsche logo at the car manufacturer’s headquarters. Photo: Bernd Weißbrod/dpa
© dpa-infocom GmbH
The Stuttgart sports car manufacturer Porsche wants to set up a joint venture with the Norwegian car center Sport AS.
The sports car manufacturer Porsche will in future be represented by a subsidiary in the non-EU country Norway.
A joint venture will be founded with the local business partner Autozentrum Sport AS, which is scheduled to start on January 1 next year, Porsche announced in Stuttgart.
A spokeswoman added on request that Norway would have a prominent position among the Nordic countries. In other states in the region there are only importers for Porsche cars.
Details on the financial side of the transaction were not given. This still has to be approved by the authorities. Sales director Detlev von Platen said Norway is a few years ahead of most other countries when it comes to electrifying cars. Around 94 percent of new cars there are electrified.