Porsche AG will eliminate more than 500 jobs. The company is closing three subsidiaries to refocus on its core sports car business.
Vehicle sales dropped 15% in the first quarter of 2026. CEO Michael Leiters is leading the realignment to address these financial pressures.
The closures affect battery developer Cellforce Group, Porsche eBike Performance, and software developer Cetitec. Porsche also recently divested its stakes in Bugatti Rimac and reduced the number of its executive board divisions.