Porsche shutters EV, battery, software units amid overhaul

Porsche is closing three subsidiaries, including its battery division Cellforce Group, as part of a company-wide overhaul driven by falling sales and profits. The automaker is shifting to a "technology-open powertrain strategy," indicating increased reliance on external partners for batteries. This move impacts over 500 employees and reflects challenges in Porsche's electrification efforts, including delays in EV model launches and declining sales in key markets like China and North America. Despite these closures, Porsche plans to introduce new EV models, including an all-electric Cayenne, while phasing out the gas-powered Macan.