Porsche fined 535 mn euros over diesel cheating

German sports car maker and Volkswagen subsidiary Porsche will pay a 535-million-euro ($598 million) fine over diesel vehicles that emitted more harmful pollutants than allowed, Stuttgart prosecutors said Tuesday.

Popular Porsche SUV to go electric

The next generation of Porsche's popular SUV, the Macan, will be completely electric, company officials announced recently.

German police raid Porsche execs in diesel probe

German police raided the offices of Porsche and Audi Wednesday as part of a fraud probe against two top Porsche executives and a former employee of the luxury carmaker in connection with the diesel emissions cheating scandal.

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Porsche

Porsche Automobil Holding SE, usually shortened to Porsche SE (German pronunciation: [ˈpɔʁʃə]) a Societas Europaea or European Public Company, is a German based holding company with investments in the automotive industry.

Porsche SE is headquartered in Zuffenhausen, a city district of Stuttgart, Baden-Württemberg and is owned by the Piëch and Porsche families, and Qatar Holdings, through the Qatar Investment Authority (10%). Through its investment in Porsche Zwischenholding GmbH, it owns 50.1% of Dr. Ing. h.c. F. Porsche AG, which is the manufacturer of a range of sports cars and SUVs, and 50.7% of Volkswagen AG.

The company was founded as Dr. Ing. h. c. F. Porsche GmbH in 1931 by Ferdinand Porsche, an Austrian engineer born in Maffersdorf, during the time of the Austro-Hungarian Empire, and Porsche's son-in-law Anton Piëch, an Austrian lawyer.

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