Porsche AG is a German automobile manufacturer specializing in high-performance sports cars, SUVs and sedans. Porsche AG is headquartered in Stuttgart, and is owned by Volkswagen AG, which is itself majority-owned by Porsche Automobil Holding SE. Porsche's current lineup includes the 718 Boxster/Cayman, 911, Panamera, Macan and Cayenne. Founded by Ferdinand Porsche in 1931 with main offices at Kronenstraße 24 in the centre of Stuttgart, initially the company offered motor vehicle development work and consulting but did not build any cars under its own name. One of the first assignments the new company received was from the German government to design a car for the people, that is a "Volkswagen". This resulted in the Volkswagen Beetle, one of the most successful car designs of all time. The Porsche 64 was developed in 1939 using many components from the Beetle. Porsche SE was created in June 2007 by renaming the old Dr. Ing. h.c. F. Porsche AG and became a holding company for the families' stake in Porsche Zwischenholding GmbH (50.1%) and Volkswagen AG (50.7%). At the same time, the new Dr. Ing. h.c. F. Porsche AG was created for the car manufacturing business. In August 2009, Porsche SE and Volkswagen AG reached an agreement that the car manufacturing operations of the two companies would merge in 2011, to form an "Integrated Automotive Group". The management of Volkswagen AG agreed to 50.76% of Volkswagen AG being owned by Porsche SE in return for Volkswagen AG management taking Porsche SE management positions and for Volkswagen AG acquiring ownership of Porsche AG. As of the end of 2015, the 52.2% control interest in VW AG is the predominant investment by Porsche SE, and Volkswagen AG in turn controls brands and companies such as Volkswagen, Audi, SEAT, Škoda, Bentley, Bugatti, Lamborghini, Porsche AG, Ducati, VW Commercial Vehicles, Scania, MAN, as well as Volkswagen Financial Services. Dr. Ing. h.c. F. Porsche AG – as a 100% subsidiary of VW AG – is responsible for the actual production and manufacture of the Porsche automobile line. The company currently produces Porsche 911, Boxster and Cayman sports cars, the Cayenne and Macan sport utility vehicles and the four-door Panamera. The headquarters and main factory are located in Zuffenhausen, a district in Stuttgart, but the Cayenne and Panamera models are manufactured in Leipzig, Germany, and parts for the SUV are also assembled in the Volkswagen Touareg factory in Bratislava, Slovakia. Boxster and Cayman production was outsourced to Valmet Automotive in Finland from 1997 to 2011, and in 2012 production moved to Germany. In 2015, Porsche reported selling a total of 218,983 cars, 28,953 (13.22%) as domestic German sales, and 190,030 (86.78%) internationally. The company has been highly successful in recent times, and indeed claims to have the highest profit per unit sold of any car company in the world. On May 11, 2017, Porsche built the one millionth 911. An Irish green Carrera S was built for the celebration, and it will be taken on a global tour before becoming a permanent exhibit at the Porsche Museum in Stuttgart.
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