Zhejiang Geely Holding Group vs Porsche

Geely Holding Group and NIO Deepen Strategic Cooperation in Battery Swapping and Charging

Zhejiang Geely Holding Group Co., Ltd. (ZGH) and NIO Holding Co., Ltd. (NIO) have entered into a comprehensive strategic cooperation in charging and battery swapping. The two sides have reached broad agreement on cooperation across technology, operations and capital, and will jointly invest in their charging and battery-swapping businesses, share technologies and standards, and develop a shared service network.

Volkswagen posts 5.8 billion euro loss in third quarter

Volkswagen is heading towards its first annual net loss since the diesel scandal, driven by a €5.8 billion net loss in Q3 2026. Key factors include a €6.4 billion goodwill impairment on Porsche, a €1 billion write-down on Chinese subsidiaries, restructuring costs, and margin pressure from the shift to electric vehicles. Revenue fell 6.3% to €75.3 billion, and deliveries dropped 14.3% overall, with a sharp 38.5% decline in China. Sales in China fell over 30% to 1.38 million vehicles in the first nine months. The company lowered its full-year operating margin forecast to at most 1%, down from 4.0-5.5%, and expects special costs of around €10 billion. Excluding special effects, operating profit would have been €8.8 billion, with net cash flow more than doubling to €4.4 billion. A €31 billion cost-cutting program is planned, but restructuring strategy remains disputed.

• Volkswagen reported a net loss of €5.8 billion in Q3 2026.
• The loss includes a €6.4 billion impairment on Porsche and a €1 billion write-down on Chinese assets.
• Third-quarter revenue fell 6.3% to €75.3 billion, and deliveries dropped 14.3% overall, with a 38.5% decline in China.

Porsche completes Rimac stake sale for €1 billion

Porsche AG has finalized the sale of its shares in Bugatti Rimac and the Rimac Group, generating approximately €1 billion. The transaction, approved by authorities on Wednesday, follows contracts signed in April. Porsche will use €250 million of the proceeds to fund pension obligations, with the remaining amount supporting its focus on core operations amid a cost-cutting program. The sale is part of Porsche's broader strategy to divest non-core assets, including its e-bike business and consulting subsidiary MHP. The company has revised its 2026 net cash flow margin forecast for the automotive segment upwards to 5.5-7.5 percent, from a previous range of 3-5 percent.

• Porsche completed the sale of its shares in Bugatti Rimac and the Rimac Group for approximately €1 billion.
• The transaction was finalized on Wednesday after regulatory approval, following contracts signed in April.
• Porsche will allocate €250 million of the proceeds to fund pension obligations.

Porsche to Sell MHP to Tata Consultancy Services

Porsche has signed an agreement to sell its management and IT consultancy MHP to Tata Consultancy Services (TCS). The transaction, reported by Reuters with an enterprise value of €320 million, is subject to regulatory approval and is expected to close within months. In parallel, Porsche and TCS agreed a five-year collaboration reportedly worth around €1.25 billion to accelerate AI, software and data solutions for Porsche. MHP will continue operating under its established brand and maintain operational independence while gaining access to TCS’s global delivery and technology capabilities.

• Porsche signed an agreement to sell its management and IT consultancy MHP to Tata Consultancy Services (TCS).
• The transaction is subject to approval by the relevant authorities and is expected to close within the coming months.
• Reuters reports an enterprise value of €320 million for the deal; Porsche did not disclose a purchase price.