Porsche,
March 17, 10:54
Porsche won’t return to Russia until 2028
Porsche will sell Russian assets with a buyback option within 5-10 years
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Porsche plans to sell all Russian assets with the right to buy back over the next 5-10 years, according to the concern’s annual global report, which was read by Autonews.ru correspondent.
As noted in the report, the Volkswagen Group, which owns Porsche, reached an agreement in December 2022 to sell the brand’s showrooms to the Russian side. In this case, we are talking about Porsche Russland LLC and Porsche Center Moscow LLC.
At the same time, the sale of Porsche’s Russian assets provides for an option with the right to repurchase within the next 5–10 years. That is, the brand will not return to Russia until at least 2028. Now this deal is being evaluated by the Russian government.
Recall that Porsche suspended its activities in Russia on March 4, 2022. At that time, there were 26 dealerships of the brand in 20 cities in the country. The lineup consisted of the 718 and 911 sports families, the premium Panamera, the Macan and Cayenne crossovers, and the Taycan electric car.
Earlier, Autonews.ru reported that the German concern Volkswagen Group is preparing to get rid of Russian assets. In addition to the parent Volkswagen and premium Porsche, these events will also affect the Czech Skoda.