Porsche to form new subsidiary in Taiwan

Porsche to form new subsidiary in Taiwan

Porsche has decided to strengthen its presence in Taiwan by forming a joint-venture with its long-time business partner, Universal Motor Traders (UMT), to continue growing its operations with its own importer organisation.

The new Porsche subsidiary, Porsche Taiwan, is expected to be inaugurated in 2018. Martin Limpert has been appointed as the new Chief Executive Officer. The formation of the transaction is subject to merger control approval by the competent authorities.

"During the last ten years, Porsche in Taiwan with UMT as our trusted partner expanded the sales volume from around 200 cars up to more than 3,000 cars a year. This highlights the remarkable success of Porsche in Taiwan and the considerable potential we see in this market. The foundation of a Joint Venture is the next logical step in further expanding our presence," said Detlev von Platen, member of the Executive Board for Sales and Marketing of Porsche AG.

Taiwan, with its continued growth, registered a sales record of 3,356 units in 2016 contributed from four Porsche Centres. The company is planning to gradually expand the dealer network.

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