Porsche shutters e-bike, battery, software subsidiaries as part of company overhaul

Porsche will shut down three subsidiaries — Cellforce Group, Porsche eBike Performance, and Cetitec — as it scales back its broader tech push.

The automaker is abandoning plans to produce its own batteries and shifting toward a more outsourced powertrain strategy.

The restructuring will cut more than 500 jobs and reflects pressure from weaker sales, delayed EV execution, and falling profits in key markets.

Porsche is also pulling back from other investments as it refocuses on core vehicle operations.