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Porsche is putting a further 150 million into startups

The sports car manufacturer has already invested €100 million in six new companies and four venture capital funds over the last two years. The focus of the Stuttgart-based company is now shifting to lifestyle and future technologies like artificial intelligence (AI).

10 Oct. 2018
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Porsche is putting a further 150 million into startups (Photo: Prosche AG)

As reported in the “Handelsblatt” , the sum is to be put mainly into business models relating to the customer experience, mobility and digital lifestyle topics in the next five years. In addition, future technologies like AI, blockchain and virtual and augmented reality (VR/AR) are on the agenda. Until now, the innovations have been very heavily driven by technology, says the deputy chairman of the Porsche board, Lutz Meschke: “The changes that are now necessary are in some cases far removed from today’s core competencies.”

An example of this is Gapless , the latest investment by Porsche Ventures. The software allows vintage cars and their histories to be managed digitally. Based on blockchain technology, it is also possible to share the history with others without risk of fraud. The aim is to maintain or increase the value of the old vehicles.

Along with other investors such as Hyundai, Alibaba and JVC Kenwood, the automobile manufacturer has also taken a holding in the Zurich-based start-up WayRay . The new Swiss company develops AR technologies with which, for example, holograms can be projected onto windscreens. The aim here is to integrate virtual objects into the driving experience.