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Founded Year

2017

Stage

Series A | Alive

About Piech

Piëch is a Swiss sports car company that combines classic sports car construction with technology.

Headquarters Location

Hornergasse 10

Zurich, 8001,

Czech Republic

+41 44 534 11 11

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Piech's Products & Differentiators

    Piëch GT2-

    Two-seater electric sports car

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Expert Collections containing Piech

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Piech is included in 1 Expert Collection, including Auto Tech.

A

Auto Tech

1,400 items

Companies developing battery electric vehicles (BEVs) and fuel cell vehicles (FCEVs) as well as companies working on improvements to battery design, building out charging infrastructure, and launching EV sharing services to help accelerate adoption.

Latest Piech News

Volkswagen's efforts to boost valuation stifled by lack of succession plan

Jul 19, 2023

5-day change Today at 04:13 am Share HAMBURG/BERLIN, July 19 (Reuters) - As Volkswagenregears its strategy around boosting stock market value,investors warned its efforts would be wasted if it does notaddress the elephant in the room: the lack of a succession planfor its supervisory board. The market needs to know who will take over when theoctogenerian heads of its controlling shareholder - thePorsche-Piech family clan - retire, according to Deka, UnionInvestment and DWS, three of the carmaker's top 20 shareholders. The company plans to run a series of capital market days incoming months for each of its brands, which it hopes will boosta valuation in freefall since mid-2021. When their strategy presentation at the company's capitalmarkets day in June failed to impress investors - shares fell2.5% on the day - company representatives said future capitalmarket days would turn it around. But multiple sources were sceptical they would, unlessVolkswagen's governance issues were addressed. The listing of luxury carmaker Porsche AG inSeptember would have been an opportune time to hand over power,Hendrik Schmidt, corporate governance expert at DWS,the asset management arm of Deutsche Bank said. "We have asked repeatedly for a long-term orientedtransition plan for the supervisory board and encouraged agenerational change," Schmidt said. "The share is suffering from a 'governance discount'," saidIngo Speich, head of sustainability and corporate governance atVolkswagen shareholder Deka Investment. To be sure, other issues also weigh on Volkswagen's stockmarket performance, from high capital costs and risks in Chinato concerns over its ability to maintain market dominance in anelectric age. "On almost every criteria, investors have a betteralternative to invest in within the autos sector thanVolkswagen," said Arndt Ellinghorst of Quantco. 'NOT IDEAL IT'S TAKING SO LONG' Wolfgang Porsche and Hans Michael Piech, both above 80, arethe two oldest successors of the Porsche and Piech familieswhich founded the Volkswagen Group. The two men sit on the boards of both Volkswagen and PorscheSE, the holding company which owns 31.9% ofVolkswagen and has 53.3% voting rights, essentially controllingEurope's largest carmaker. "If a brick falls on my head, the question of a successor istaken care of," Wolfgang Porsche said in a recent interview withStuttgarter Zeitung, without providing further details. Still, the families are aware of the need for clarity, asource close to the matter said, declining to be named, with thenext generation waiting in the wings. One possible successor as head of the Porsche family is62-year-old Ferdinand Oliver Porsche, currently on the board ofPorsche SE, Volkswagen, Audi, and Porsche AG. "Oliver Porsche is sure to represent and take over fromWolfgang Porsche at some point," the source said. On the Piech side, 29-year-old Sophie Piech and her brotherStefan Piech, 52, are both possible candidates as successor tothe role of Piech family head, the source said. "It's not ideal that it takes so long," the source said. Beyond the issue of the succession plan, analysts havepointed to weaknesses in the board's neutrality andqualifications. Eight out of ten members are direct representatives of thethree biggest shareholders in Volkswagen: the Porsche and Piechfamilies, Lower Saxony, or Qatar. Four are lawyers and one has no professional qualifications,analyst Daniel Schwarz of Stifel pointed out in a recent report,limiting the extent to which they would be able to advisemanagement on issues like digitalization and electrification. "When you compare the situation at VW with other businesses,VW comes off badly," said Schwarz, pointing to Mercedes-Benz'sboard where multiple members have experience in chemistry,software, and luxury goods. (Reporting by Jan Schwartz and Victoria Waldersee; Editing byBernadette Baum) Share

Piech Frequently Asked Questions (FAQ)

  • When was Piech founded?

    Piech was founded in 2017.

  • Where is Piech's headquarters?

    Piech's headquarters is located at Hornergasse 10, Zurich.

  • What is Piech's latest funding round?

    Piech's latest funding round is Series A.

  • Who are Piech's competitors?

    Competitors of Piech include Porsche and 2 more.

  • What products does Piech offer?

    Piech's products include Piëch GT2- and 2 more.

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