VW And Porsche To Set Up Major Research Center In Qatar
Volkswagen and Porsche will set up a research and development center in Qatar, reports Arabian Business. Yes, you did read right, Qatar. Qatar Holding has signed a memorandum of understanding with Qatar Science & Technology Park (QSTP), Volkswagen and Porsche. According to the MOU, research and development, testing and training facilities will be built in Doha. “Other avenues of cooperation” may also be visited.
Both Porsche and Volkswagen are quite at home in the neighborhood. They like to test their cars there, and had recent business dealings with the government.
The fact that Qatar’s Emir, Sheik Hamad bin Dschassim bin Dschaber al-Thani, helped Volkswagen to engineer their reverse takeover of Porsche, which got the Sheik 10 percent of Porsche and 17 percent of Volkswagen, probably impacted the decision not at all.
Bertel Schmitt comes back to journalism after taking a 35 year break in advertising and marketing. He ran and owned advertising agencies in Duesseldorf, Germany, and New York City. Volkswagen A.G. was Bertel's most important corporate account. Schmitt's advertising and marketing career touched many corners of the industry with a special focus on automotive products and services. Since 2004, he lives in Japan and China with his wife <a href="http://www.tomokoandbertel.com"> Tomoko </a>. Bertel Schmitt is a founding board member of the <a href="http://www.offshoresuperseries.com"> Offshore Super Series </a>, an American offshore powerboat racing organization. He is co-owner of the racing team Typhoon.
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So with Lower Saxony owning 20% and Qatar Holdings owning 17 percent. Is VW really 37 % Government owned? It appears to be driving their decisions vs good business practice. Of course making your larger share holders happy could be considered good business.
It would be interesting to know how the Iranian neighbours will see this... since they're the biggest producers of cars in that area.