Porsche SE or Porsche (/ˈpɔrʃə/[1]) is a German automotive manufacturer of luxury high performance automobiles, which is majority-owned by the Piëch and Porsche families. Porsche SE holds two chief assets, the first of which is Dr. Ing. h.c. F. Porsche AG (which stands for Doktor Ingenieur honoris causa Ferdinand Porsche Aktiengesellschaft), often shortened to Porsche AG, manufacturer of the Porsche automobile line. The second asset was until june 2009 a majority stake in Volkswagen Group (Volkswagen AG), the largest car manufacturer in Europe, and the third largest in the world. The company is headquartered in Zuffenhausen, a city district of Stuttgart, Baden-Württemberg. Porsche AG is by august 2009 a subsidarie of Volkswagen Group (Volkswagen AG)
It was founded in 1931 by Ferdinand Porsche, an Austro-Hungarian engineer born in Maffersdorf, Austria-Hungary (today Vratislavice, Czech Republic). Porsche is also known for designing the first Volkswagen, but Béla Barényi is credited with having conceived the basic design five years earlier.[2] The company currently produces 911 (997), Boxster and Cayman sports cars and Cayenne sport utility vehicles. The latest model line, the four-door Panamera saloon (sedan), was launched on Monday, 20 April 2009.
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