After a long and tumultuous battle, Volkswagen has finally taken over Porsche.

After a long and tumultuous battle, Volkswagen has finally taken over Porsche.

Government authorities recently approved the move which allowed Volkswagen to create the Integrated Automotive Group earlier today. The specifics are technical, but the takeover will enable the companies to share platforms, components and technologies.

According to Volkswagen CEO Martin Winterkorn, "The path is now finally clear for a bright future together. Even closer cooperation will enable us to significantly strengthen Volkswagen and Porsche, and further expand the Group's product portfolio with fascinating new vehicles." He added, "The unique Porsche brand will continue to develop successfully under Volkswagen's multibrand strategy and proven decentralized management structure. Porsche will retain its own identity and operational independence, just like all of the other Group brands."

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