Porsche AG is forming an importer joint-venture with its long-time business partner, Universal Motor Traders (UMT). The new subsidiary, Porsche Taiwan Ltd, is expected to be inaugurated in 2018. Martin Limpert has been appointed as the new Chief Executive Officer. The formation of the transaction is subject to merger control approval by the regulators. Terms were not disclosed.
“During the last ten years, Porsche in Taiwan with UMT expanded the sales volume from around 200 cars up to more than 3,000 cars a year. The foundation of a Joint Venture is the next logical step in further expanding our presence,” said Detlev von Platen, member of the Executive Board for Sales and Marketing of Porsche AG. The sales region Asia, Africa and Middle East is a significant area for Porsche. In 2016, more than 90.000 cars were delivered to customers. This means an increase of six percent compared to the past year.
Martin Limpert, Managing Director of Porsche Asia Pacific and a familiar figure in the region, will take on his new role later this year. Limpert, who is German born, has spent ten years at Porsche AG where he built extensive experience in different areas of management. Since March 2014, Limpert led the Asia Pacific office, allowing him the opportunity to deep dive into the Asian market and build upon his local knowledge and expertise.
Taiwan, with its continued growth, registered a sales record of 3,356 units in 2016 contributed from four Porsche Centers. The Porsche Centre Taipei-Neihu Ground Breaking Ceremony took place last Saturday, and is expected to commence full operations by the end of 2019. Porsche is planning to gradually expand the dealer network.
