Porsche to work with UP.Labs to create 6 mobility startups

Porsche to work with UP.Labs to create 6 mobility startups

MANILA: Porsche will collaborate with UP.Labs to establish six companies from 2023 to 2025 with new business models in various areas of mobility.

KEY TAKEAWAYS

  • What will be the focus areas of the Porsche and UP.Labs planned startup companies?

    The Stuttgart-based sports car manufacturer and the US company will set up startups that will revolve around Porsche's core activities. For example, these could involve predictive maintenance, supply chain transparency, or digital retail.
  • When will the first Porsche-UP.Labs startup be established?

    Development is already underway for the first two startups, slated to be founded before the end of 2022.
  • The Stuttgart-based sports car manufacturer and the US company will set up startups that  will revolve around Porsche's core activities. For example, these could involve predictive maintenance, supply chain transparency, or digital retail. Porsche said it is investing a sum in the double-digit millions for this purpose.

    The startups will be minority-owned by Porsche, and the carmaker will have the option to purchase them entirely after three years. Development is already underway for the first two startups, slated to be founded before the end of 2022.

    "We want to strengthen our existing, broad-based startup ecosystem with an external growth engine," said Lutz Meschke, Deputy Chairman of the Executive Board of Porsche AG and Member of the Executive Board for Finance and IT.

    "Through UP.Labs, Porsche secures access to international talents and their know-how. The aim is to further enhance Porsche’s position in the current transformation phase of the automotive industry in the long term. Above all, we strive for new sources of innovation." Porsche has been active since 2016 in identifying and taking stakes in around 40 startups with new business models and new technologies.

    porsche-taycan

    Through the collaboration, UP.Labs will work directly with Porsche to develop startups tailored to the Porsche business. Porsche then has the option to integrate them into the organization. "The concept combines the advantages of free startup development on the market — for example, through the participation of all employees in the company's success — with the direct involvement of our employees and a close link to Porsche," Meschke explained.

    Los Angeles-based UP.Labs has designed a new type of venturing platform, underpinned by what co-founder and CEO John Kuolt described as "a new model and incentives structure." The US team consists of proven entrepreneurs, product leaders ,and technologists with a record of co-developing numerous successful ventures in collaboration with corporate partners.

    "As one of the pioneers of sustainable mobility, Porsche is actively searching for new solutions with courage and drive," CFO Meschke emphasizes. "UP.Labs' approach combines Porsche's capabilities with external market incentives to build exciting business models for the benefit of the company."

    Photos from Porsche

    Also read: Porsche unveils colorful one-off Taycan by Nike Air Max designer

    Sell your car at the best price

    Verified and genuine buyers Verified and genuine buyers
    Free listing Free listing
    List your car

    Porsche Car Models

    • Porsche Cayenne
      Porsche Cayenne
    • Porsche 911
      Porsche 911
    • Porsche 718
      Porsche 718
    • Porsche Taycan
      Porsche Taycan
    • Porsche Macan
      Porsche Macan
    • Porsche Panamera
      Porsche Panamera
    Porsche Cars Price

    MIAS 2024

    You might also be interested in

    Latest Porsche Car Videos on Zigwheels

    Zigwheels
    • 2022 Porsche Cayenne Spec Guide | Zigwheels.Ph
      2022 Porsche Cayenne Spec Guide | Zigwheels.Ph
      21 Dec, 2022 .
    • 2022 Porsche Cayenne Review | Zigwheels.Ph
      2022 Porsche Cayenne Review | Zigwheels.Ph
      21 Dec, 2022 .
    • Porsche’s GTS lineup FIRST LOOK | Zigwheels.ph
      Porsche’s GTS lineup FIRST LOOK | Zigwheels.ph
      17 Jun, 2022 .
    • Porsche Macan 2022 Launch & First Look | Zigwheels.Ph
      Porsche Macan 2022 Launch & First Look | Zigwheels.Ph
      27 Apr, 2022 .
    • Still NA, Still Awesome | New Porsche 911 GT3 Launch Reaction
      Still NA, Still Awesome | New Porsche 911 GT3 Launch Reaction
      26 Mar, 2021 .
    • 2017 Porsche Panamera Turbo Preview
      2017 Porsche Panamera Turbo Preview
      06 Feb, 2017 . 2K views
    • The new Panamera Turbo and Panamera 4S in motion
      The new Panamera Turbo and Panamera 4S in motion
      06 Feb, 2017 . 1M views
    • 2016 Porsche Panamera review
      2016 Porsche Panamera review
      06 Feb, 2017 . 446K views
    • New Porsche 718 Boxster gets new look and 2.0 turbo power
      New Porsche 718 Boxster gets new look and 2.0 turbo power
      16 Feb, 2016 . 55K views
    • Porsche 718 Boxster S Sound Driving shots Exterior Interior details Preview 2017
      Porsche 718 Boxster S Sound Driving shots Exterior Interior details Preview 2017
      16 Feb, 2016 . 42K views
    Latest Porsche Car Videos

    Porsche Car Articles From Carmudi

    • journal
    • Porsche sells 320k units in 2023
      Porsche sells 320k units in 2023
      Ruben Manahan IV, Jan 16, 2024
    • Porsche Design, Honor team up to create cutting-edge smart devices
      Porsche Design, Honor team up to create cutting-edge smart devices
      Paulo Papa, Dec 27, 2023
    • New Porsche E-Hybrid lands in PH
      New Porsche E-Hybrid lands in PH
      Ruben Manahan IV, Dec 11, 2023
    • Porsche unveils custom Panamera Turbo E-Hybrid
      Porsche unveils custom Panamera Turbo E-Hybrid
      Paulo Papa, Dec 03, 2023
    • New Porsche Cayenne E-Hybrid to arrive in PH next month
      New Porsche Cayenne E-Hybrid to arrive in PH next month
      Ruben Manahan IV, Nov 28, 2023

    Compare

    You can add 3 variants maximum*