Porsche overtakes Volkswagen as Europe’s most valuable carmaker

[{"selector":"#anim-a5eab669-8b98-4ad5-be59-81e13b09c382","keyframes":{"opacity":[0,1]},"delay":0,"duration":1500,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a4db5ee4-79b0-40a0-9736-2f6081747912","keyframes":{"opacity":[0,1]},"delay":250,"duration":1500,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] Brush Stroke On Thursday, Porsche surpassed its old parent Volkswagen (VLKAF) to become

[{"selector":"#anim-fb633616-9f09-4049-a85e-fd4c60eee6a4","keyframes":{"opacity":[0,1]},"delay":0,"duration":2400,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-54e5ff01-405d-4143-9b22-a3742f19c146","keyframes":{"transform":["translate3d(0px, -99.59318%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2400,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Brush Stroke the most valuable manufacturer in Europe as the price of the sportscar maker's newly-listed shares soared.

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were up to 93 euros ($91.95) on Thursday morning, giving the sports car manufacturer a market capitalization of 85 billion euros ($84 billion).

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[{"selector":"#anim-4f5e0acf-df35-49a6-95f9-54305b3b1f66","keyframes":{"opacity":[0,1]},"delay":0,"duration":4000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-9ed02771-fe19-4ce0-951c-e9a6776db0da","keyframes":{"transform":["rotate(-120deg) translate3d(0px, -57.61225%, 0) rotate(120deg)","rotate(-120deg) translate3d(0px, 0px, 0) rotate(120deg)"]},"delay":0,"duration":4000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Brush Stroke Porsche's worth has now surpassed Volkswagen's by 77.7 billion euros ($76.6 billion). Among European automakers, Mercedes-Benz comes in third place, followed by Stellantis and BMW (BMWYY).

[{"selector":"#anim-10e1b990-3658-4934-91b4-22d698118bd4","keyframes":{"opacity":[0,1]},"delay":0,"duration":4000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d7fbdc00-39f3-4bee-bfff-0d5ae6efc57d","keyframes":{"transform":["translate3d(0px, 16.98018%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":4000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Brush Stroke After investment banks engaged in the flotation of Porsche bought about 3.8 million shares for 312.8 million euros ($308 million) as part

[{"selector":"#anim-6d27ecf3-0ac1-4c65-9630-8ee6b4299203","keyframes":{"opacity":[0,1]},"delay":0,"duration":4000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7bb90fec-9060-45e2-b675-e17668ec1518","keyframes":{"transform":["translate3d(0px, -20.59193%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":4000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Brush Stroke the so-called greenshoe option, intended to support the listing, Porsche's share price picked up steam.

A Volkswagen representative stated that "inflation data from Europe and the US, recent concerns over the energy supply in Europe,

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