Apple to acquire Porsche AG for approximately 55.0B€ |  |  |
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NEW YORK (March 31, 2015) - Tim Cook and Matthias Müller will take the stage in New York tomorrow to announce the acquisition of Porsche AG for approximately 55.0B€. Rumors of a forthcoming Apple Car may have been premature as it appears now that Apple will acquire all Porsche AG assets which include Porsche's soon to be released new hybrid electric Panamera sports sedan and Cayenne SUV. Preliminary indications are that all upcoming Porsche models will feature Apple's CarPlay system that can be operated via voice, touchscreen or physical controls. The first such vehicle will be the new just announced Porsche Panamera Edition Panamera. Hans-Gerd Bode briefly responded to initial press requests with the response that "Porsche will be integrating Apple technology and services while Apple will gain access to Porsche engineering and design to develop future transportation systems." Examples given include that Porsche Roadside Assistance will now be handled through the AppleCare team at Apple and that models will support direct automated assistance through Apple iTunes. In addition to integrating Apple CarPlay, Porsche will also be integrating Apple tablets and displays into both navigation and entertainment systems offered across model lines. Speculations abound as to which Porsche model will be the first to sport a Tesla-fighting mega sized Apple iPad display integrated into the dash.
Apple unsuccessfully attempted to purchase Tesla in the latter half of 2014 as insiders reported that Tim Cook and Elon Musk did not hit it off. Cook wanted to call the shots for the combined Apple-Tesla venture but Musk balked and would not agree to terms so the deal was cancelled. The same insiders indicate that Apple then began to immediately court Porsche given its high performance 919 Hybrid efforts. Porsche recently announced that it plans to field two 919 Hybrid cars in LMP1 for the majority of the 2015 season, coincidentally one in black and one in white a la most Apple iPhone offerings to date. By acquiring Porsche, Apple will be able to immediately boost its reported numbers of installed CarPlay systems and begin development in earnest of new hybrid or all electric cars utilizing Porsche design excellence and engineering. There has been no word on self-driving Porsches as of yet but certainly the possibility is in the cards. Given Porsche's penchant for using racing as a development platform for passenger cars, could we see a fully automated 919 for the 2016 race season? Porsche competes in the Rolex series, will this mean that the Apple Watch could supplant Rolex as a major motorsports sponsor if both are owned by Apple?
Joint Apple/VW/Porsche press release to follow.
CUPERTINO, WOLFSBURG— March 31, 2015
Apple and Volkswagen AG are pleased to announce, pending approval by both US and German regulatory bodies, the acquisition of the Porsche AG division of Volkswagen Group for €55.0 Billion.
Apple has long wanted to move into the automotive industry bringing their award winning design styling and forward looking, automotive green technologies to bear in an entirely new industry. This investment will allow Apple to further expand into the European community, and in partnership with regulatory bodies, ensure a “green” future for the automotive community.
Upon approval of the acquisition, Apple will immediately release two celebratory products demonstrating the merger of the automotive and electronics industries at no extra cost to our customers.
. A special, high speed version of the 15” MacBook Pro, branded with the Porsche Logo on the cover, and available in the standard Porsche colors of white, black, guards red, and speed yellow.
. Apple Extreme routers will receive the same special color schemes.
While at this time, there are no planned changes to Porsche vehicles, the following are under consideration:
. Beginning in MY17, all Porsche vehicles will include standard CarPlay.
. A CarPlay option will allow for wireless connection to roadside assistance. It will no longer be necessary to call roadside assistance as Apple software will detect when the vehicle is incapacitated and automatically place the call. Special operators will always be available to handle all automotive emergencies.
. A special version of Apple Care, matching in length the Porsche Warranty in each country, will cover all Porsche electronics. Instead of visiting your local Porsche Dealership or Centre, a simple visit to your local Apple Store replaces it. Make an online appointment with a Genius. New Drive-in facilities are currently in the planning phase and will be implemented first in our flagship stores in New York, San Francisco, and London.
. Apple looks forward to working closely with the Porsche Motorsports Division:
. Every Porsche factory driver will receive a complimentary 42mm 18-Karat Yellow Gold Case Apple Watch with a black sport band
. The Apple Watch will replace Rolex as the official time piece and advertisement in all motorsports events
. Apple TV will launch a new streaming channel that will show every motor sports event where a Porsche factory car participates starting in 2016.
. For a nominal charge, Porsche Cayennes and Macans will receive Apple wireless keyboards for all rear seat entertainment systems.
. All new Porsche buyers will receive, compliments of Apple, a new Apple wireless iMouse in the shape of the famous Porsche key.
In the future, Apple and Porsche look forward to partnering in significant technology changes beginning with the long awaited iCar. While no firm plans exist, under consideration are an all electric, compact two door sedan and/or in keeping with Porsche’s famous sports cars, an all electric version of a subcompact, two seat convertible sports car. Any Apple iCar will have a zero impact carbon footprint and be upward compatible with future self-driving options.
In our most exciting development, for consumer based motorsports, the famous Weissach test facility will begin testing of the iGT, a plug-in GT vehicle destined to become the standard bearer and flagship Porsche vehicle. Top tier Apple and Porsche Motorsports engineers will work in conjunction to produce the highest level of automotive performance in a green vehicle that will reach the pinnacle of motor sports performance levels in a street legal vehicle suitable for use at your local race track or right at home, plugged into your outlet in your garage. It's performance envelope will exceed all current Porsche street legal vehicles yet target priced within the reach of Porsche GT enthusiasts. Technical information on the iGT will be released in the near future.
Press Contacts:
Christine Monaghan
Apple
cmonaghan@apple.com
Tom Neumayr
Apple
tneumayr@apple.com
Apple, the Apple logo, Mac, Mac OS, Macintosh, App Store, iPhone, Apple Pay, iPad and iPod touch are trademarks of Apple. Other company and product names may be trademarks of their respective owners.
For more information and images for journalists and media representatives can be found on the Porsche Press Database at [presse.porsche.de].
Contact
For general comments, questions and criticism please contact presse@porsche.de.
About Porsche Cars North America, Inc. | One Porsche Drive, Atlanta, GA 30354 USA
Established in 1984, Porsche Cars North America, Inc. (PCNA) is the exclusive U.S. importer of Porsche 918 Spyder, 911, Boxster and Cayman sports cars, the Macan and Cayenne SUVs and Panamera sports sedans. Headquartered in Atlanta, Georgia since 1998, PCNA moved into a brand new, cutting edge building at One Porsche Drive in January 2015. This one-of-a-kind facility showcases a commitment to design and functionality, serving not only as an inspirational workplace for Porsche employees, but also a brand experience center featuring a 1.6 mile test track, human performance center, and event space. PCNA employs approximately 300 people who provide parts, service, marketing and training for 189 dealers. They, in turn, work to provide Porsche customers with a best-in-class experience that is in keeping with the brand’s 65-plus year history and leadership in the advancement of vehicle performance, safety and efficiency. PCNA is a wholly-owned subsidiary of Porsche AG, which is headquartered in Stuttgart, Germany.
"A mile of highway will take you one mile. A mile of runway will take you anywhere."
Apple unsuccessfully attempted to purchase Tesla in the latter half of 2014 as insiders reported that Tim Cook and Elon Musk did not hit it off. Cook wanted to call the shots for the combined Apple-Tesla venture but Musk balked and would not agree to terms so the deal was cancelled. The same insiders indicate that Apple then began to immediately court Porsche given its high performance 919 Hybrid efforts. Porsche recently announced that it plans to field two 919 Hybrid cars in LMP1 for the majority of the 2015 season, coincidentally one in black and one in white a la most Apple iPhone offerings to date. By acquiring Porsche, Apple will be able to immediately boost its reported numbers of installed CarPlay systems and begin development in earnest of new hybrid or all electric cars utilizing Porsche design excellence and engineering. There has been no word on self-driving Porsches as of yet but certainly the possibility is in the cards. Given Porsche's penchant for using racing as a development platform for passenger cars, could we see a fully automated 919 for the 2016 race season? Porsche competes in the Rolex series, will this mean that the Apple Watch could supplant Rolex as a major motorsports sponsor if both are owned by Apple?
Joint Apple/VW/Porsche press release to follow.
CUPERTINO, WOLFSBURG— March 31, 2015
Apple and Volkswagen AG are pleased to announce, pending approval by both US and German regulatory bodies, the acquisition of the Porsche AG division of Volkswagen Group for €55.0 Billion.
Apple has long wanted to move into the automotive industry bringing their award winning design styling and forward looking, automotive green technologies to bear in an entirely new industry. This investment will allow Apple to further expand into the European community, and in partnership with regulatory bodies, ensure a “green” future for the automotive community.
Upon approval of the acquisition, Apple will immediately release two celebratory products demonstrating the merger of the automotive and electronics industries at no extra cost to our customers.
. A special, high speed version of the 15” MacBook Pro, branded with the Porsche Logo on the cover, and available in the standard Porsche colors of white, black, guards red, and speed yellow.
. Apple Extreme routers will receive the same special color schemes.
While at this time, there are no planned changes to Porsche vehicles, the following are under consideration:
. Beginning in MY17, all Porsche vehicles will include standard CarPlay.
. A CarPlay option will allow for wireless connection to roadside assistance. It will no longer be necessary to call roadside assistance as Apple software will detect when the vehicle is incapacitated and automatically place the call. Special operators will always be available to handle all automotive emergencies.
. A special version of Apple Care, matching in length the Porsche Warranty in each country, will cover all Porsche electronics. Instead of visiting your local Porsche Dealership or Centre, a simple visit to your local Apple Store replaces it. Make an online appointment with a Genius. New Drive-in facilities are currently in the planning phase and will be implemented first in our flagship stores in New York, San Francisco, and London.
. Apple looks forward to working closely with the Porsche Motorsports Division:
. Every Porsche factory driver will receive a complimentary 42mm 18-Karat Yellow Gold Case Apple Watch with a black sport band
. The Apple Watch will replace Rolex as the official time piece and advertisement in all motorsports events
. Apple TV will launch a new streaming channel that will show every motor sports event where a Porsche factory car participates starting in 2016.
. For a nominal charge, Porsche Cayennes and Macans will receive Apple wireless keyboards for all rear seat entertainment systems.
. All new Porsche buyers will receive, compliments of Apple, a new Apple wireless iMouse in the shape of the famous Porsche key.
In the future, Apple and Porsche look forward to partnering in significant technology changes beginning with the long awaited iCar. While no firm plans exist, under consideration are an all electric, compact two door sedan and/or in keeping with Porsche’s famous sports cars, an all electric version of a subcompact, two seat convertible sports car. Any Apple iCar will have a zero impact carbon footprint and be upward compatible with future self-driving options.
In our most exciting development, for consumer based motorsports, the famous Weissach test facility will begin testing of the iGT, a plug-in GT vehicle destined to become the standard bearer and flagship Porsche vehicle. Top tier Apple and Porsche Motorsports engineers will work in conjunction to produce the highest level of automotive performance in a green vehicle that will reach the pinnacle of motor sports performance levels in a street legal vehicle suitable for use at your local race track or right at home, plugged into your outlet in your garage. It's performance envelope will exceed all current Porsche street legal vehicles yet target priced within the reach of Porsche GT enthusiasts. Technical information on the iGT will be released in the near future.
Press Contacts:
Christine Monaghan
Apple
cmonaghan@apple.com
Tom Neumayr
Apple
tneumayr@apple.com
Apple, the Apple logo, Mac, Mac OS, Macintosh, App Store, iPhone, Apple Pay, iPad and iPod touch are trademarks of Apple. Other company and product names may be trademarks of their respective owners.
For more information and images for journalists and media representatives can be found on the Porsche Press Database at [presse.porsche.de].
Contact
For general comments, questions and criticism please contact presse@porsche.de.
About Porsche Cars North America, Inc. | One Porsche Drive, Atlanta, GA 30354 USA
Established in 1984, Porsche Cars North America, Inc. (PCNA) is the exclusive U.S. importer of Porsche 918 Spyder, 911, Boxster and Cayman sports cars, the Macan and Cayenne SUVs and Panamera sports sedans. Headquartered in Atlanta, Georgia since 1998, PCNA moved into a brand new, cutting edge building at One Porsche Drive in January 2015. This one-of-a-kind facility showcases a commitment to design and functionality, serving not only as an inspirational workplace for Porsche employees, but also a brand experience center featuring a 1.6 mile test track, human performance center, and event space. PCNA employs approximately 300 people who provide parts, service, marketing and training for 189 dealers. They, in turn, work to provide Porsche customers with a best-in-class experience that is in keeping with the brand’s 65-plus year history and leadership in the advancement of vehicle performance, safety and efficiency. PCNA is a wholly-owned subsidiary of Porsche AG, which is headquartered in Stuttgart, Germany.
"A mile of highway will take you one mile. A mile of runway will take you anywhere."
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