Porsche Automobil Holding SE Monday reiterated its goal of creating an integrated automotive company with Volkswagen AG.
In reaction to a resolution by Volkswagen's European workers' council calling for clarity on Porsche's financial situation, Porsche said it remains convinced an integrated automotive company remains the best industrial solution for all sides.
Porsche said it has a healthy financial basis, with an equity ratio of 45% and a double-digit profit margin. The company said it is still working to secure credit lines totaling EUR12.5 billion, of which EUR10 billion has already been secured.
In early May, Porsche agreed to enter talks with Volkswagen over combining the two companies after Porsche scrapped its effort to build up a 75% ownership stake in Volkswagen.
