Porsche Automobil Holding SE (PAH3.XE) has made two minority investments in 3-D printing companies, in a move that the luxury car maker said complements its investment strategy.
Volkswagen AG (VOW.XE) subsidiary Porsche on Thursday said it acquired single-digit stakes in two startups: U.S.-based Markforged Inc. and an unnamed early-stage company. In euros, the combined investment amounts to a sum in the single-digit millions, Porsche said.
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Markforged specializes in industrial 3-D printing and launched its first 3-D metal printer this year.
The German company said that startups are an important source of innovation and that 3-D printing has the potential to change different segments of the automotive value chain.
"In order to advance and capitalize on such innovations we have to invest in technologies at an early stage," said Philipp von Hagen, a member of Porsche's executive board.
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(END) Dow Jones Newswires
November 02, 2017 07:13 ET (11:13 GMT)