Porsche to Invest in Israeli Auto-Tech Industry

Porsche
AP/Jae C. Hong

The Algemeiner reports: JNS.org – German automaker Porsche announced on Thursday it will invest tens of millions of euros in Israeli auto-tech startups, following a trend by US automakers including Ford Motor Co. and high-tech firms like Intel heavily buying into Israel’s emerging self-driving car market.

“Israel is a top market for IT experts and engineers,” Lutz Meschke, deputy chairman and CEO of Porsche, said. “Per capita there are more start-ups there than in any other country in the world. This talent and technological know-how combined with the deep expertise of our employees is the ideal breeding ground for future-oriented business models.”

Porsche will open a permanent office in Israel, where its representatives will seek out innovative auto technologies for integration into the carmaker’s projects.

Read more here.

COMMENTS

Please let us know if you're having issues with commenting.