Porsche announced plans to shut down three German subsidiaries tied to battery technology, e-bikes and software development. The affected businesses include Cellforce Group, Porsche eBike Performance and Cetitec GmbH. The luxury automaker said the moves will affect more than 500 jobs.
Porsche Executive Board Chairman Michael Leiters described the actions as an “indispensable foundation for a successful strategic realignment.”
Cellforce develops lithium-ion pouch cells. However, Porsche said the division no longer offers a “sufficiently viable long-term perspective” under its revised strategy. The automaker expects about 50 workers to lose their jobs.
Porsche cited “fundamentally changed market conditions” as the reason for shutting down its electric bicycle drive system business. As a result, the company will cease operations, impacting approximately 350 workers.
The third subsidiary slated for closure, Cetitec, makes specialized data communication software for Porsche and the broader Volkswagen Group. Porsche pointed to changing market conditions and shifting development priorities as reasons for discontinuing the company and laying off nearly 90 employees.
The decision to shut down the three subsidiaries came one day after Porsche revealed it would reduce its executive board structure from eight divisions to seven. The automaker plans to suspend the Car IT division and integrate the unit into the R&D division, effective July 1.
The restructuring efforts follow an April announcement that Porsche would sell its equity stakes in Bugatti Rimac and Rimac Group to a consortium led by New York-based investment firm HOF Capital. Porsche did not disclose financial details but said Rimac Group would assume control of the luxury car company, with the transaction expected to close by the end of 2026.
