Porsche sells stake in Bugatti owner
German sports-car maker scales back EV ambitions under new boss Michael Leiters
German sports-car maker scales back EV ambitions under new boss Michael Leiters

Retreat is a blow for chief executive Oliver Blume who oversaw establishment of sports-car maker’s Cellforce unit

German sports-car maker reports near €1bn operating loss in third quarter

Holding company in control of Volkswagen and Porsche is diversifying away from auto sector

Luxury-car maker has been among the worst hit by market’s slow shift to EVs

Proposed carve-out of Everllence has also attracted preliminary interest from private equity firms including EQT

Luxury-car maker U-turns on strategy after China weakness, US tariffs and disappointing uptake of battery vehicles