The Story of Porsche: From WW2 to the 911

published on July 20, 2020

If you had to pick one car that captures the beauty power and excitement people feel about sports cars you would find no better candidate than the Porsche 911 what's even more impressive is that this has been true for over 50 years that's why today we'll be exploring the

History of one of Germany's most renowned car brands Porsche this video is brought to you by blankets the easiest way to digest the world's best-selling non-fiction visit the link below for a free trial and 20% off your

First subscription our story begins in 1875 and mattersdorff a small town in the Austrian Empire that is now part of the Czech Republic that was the birthplace of Ferdinand Porsche a quiet yet ambitious boy with the gift for

Engineering as a teenager he would spend most of his days in his father's repair shop learning the ins and outs of vehicle mechanics while attending university at night his persistence landed him several engineering jobs at

Local companies and by the time he was 23 he had designed his first automobile with a Porsche p1 it was basically a carriage that ran on electric motors it was supposed to brake speed records but the two tons of lead acid batteries at

Had kind of slowed it down Ferdinand would later improve it with a combustion engine creating the first ever hybrid car the loaner Porsche mixed hybrid it could reach 37 miles per hour and it broke the Austrian speed record as well

As winning various races Porsche was eventually drafted into the Army where he served as a chauffeur for none other than Archduke Franz Ferdinand luckily he was back to designing cars long before that other chauffeur gonti Archduke and

His wife killed kicking off the first world war in the early 1920s Porsche moved to Stuttgart where he was hired by Daimler as technical director there he designed to the mercedes-benz SSK arguably the greatest race car of its

Era with an unbeatable top speed of 120 miles per hour by 1931 Porsche had saved up enough money to start a business of his own he was already one of the most famous engineers in Germany yet despite that his business didn't

Take off you see the German economy was still in shambles in 1933 and very few people could afford cars this is where Hitler came in he became the Chancellor of Germany on January 30th of that year in just a few days later at the Berlin

Auto Show he announced the beginning of a new era for automobiles he wanted every German citizen to have a car that could fit a family of five start in the cold and be very fuel efficient essentially what he wanted was a

People's car a Volkswagen if you will of course the project was extremely ambitious which is why Hitler recruited the best engineers he had including Ferdinand Porsche he began working on what would eventually become the b2 in

1934 later becoming a member of the Nazi Party and even the SS in 1938 Hitler unveiled a state-owned factory for Porsches car which would be built by the newly established Volkswagen company during World War two

Porsche was recruited for military projects like the elephant heavy tank destroyer because of that and his SS membership Porsche was arrested and imprisoned for war crimes in 1945 he was released a few years later but by that

Point his son ferry Porsche had assumed control of the company he wanted to build cars with the Porsche name on them and thus in 1948 he created the Porsche 356 its popularity didn't really take off until it will the 1951 lemon race

After which it became Porsches flagship model by 1965 when production finally ended over 76,000 cars had been produced so why stopped production well in 1963 another model started rolling off the factory floor the Porsche 911 it was a

Rear-engine car that was air-cooled with two small back seats and a trunk that could fit little more than a golf bag critics called it a better more civilized 356 and they were right the 911 became a hit sensation that built

Upon its predecessors success it became Porsches best seller despite its price tag of $6,000 which was more than most people's annual salary at the time by the 1970s Porsche were selling over 20,000 911s

Year and if you count all of its variations the motto is arguably the most successful competition car in history over the years it has won nearly everything the Monte Carlo Rally the paris-dakar is the Targa Florio and

Numerous of the rally and GT championships it's easy to see why some estimates say the two thirds of all Porsches ever made are still on the road which is part of the reason why the Porsche brand has endured for so long

Their brand has been built on sports cars which is why people lost their minds when Porsche decided to make an SUV in 2002 the Cayenne was a huge departure from anything they'd ever done before in fact it was Porsches first car

With four doors fans of the brand were shocked and thought it would be value Porsches image but actually the opposite happened the car was an excellent performer and it quickly rose to prominence today the Cayenne and

Porsches new SUV thermicon make up over 70% of the company sales in America but let's talk about the company's ownership you probably know that Porsche is owned by Volkswagen but it's actually way more complicated so complicated that we'll be

Making a separate video just for that story but here's the short version in the decades after world war ii volkswagen became very successful vastly overshadowing porsche and setting 60 times as many cars one day in 2005

However these two porsche executives decided for some reason is that they wanted to acquire volkswagen of course Volkswagen was way bigger than Porsche could possibly afford but they figured out an ingenious and barely legal way

Around that their first move was to buy call options on Volkswagen stock now if you're not familiar with how call options work they basically earn money as the stocks price increases so once the executives had enough options they

Started buying the stock itself lifting its price earning money from the options and using that money to buy even more stock they continued their scheme for three years and by October 2008 Porsche controlled seventy four point one

Percent of Volkswagen now by German law in order to acts as Volkswagens billions of cash reserves Porsche needed to own 75% but Porsche had ran out of cash long ago and had purchased thousands of shares by

Borrowing money by that point the stock manipulation was so bad the devoxx wagon stock had quadrupled in price making it briefly the largest company in the world then the Great Recession happened all of the banks demanded their money back but

Porsche were basically broke and quickly declared bankruptcy the two executives however had prepared for that in 2007 they had created a holding company for Porsche which owned 100% of the manufacturing business but added an

Extra layer of legal security this kept the manufacturing business alive but ironically when the Porsche holding company went bankrupt it was volkswagen who rescued them volkswagen purchased the entirety of the

Porsche manufacturing company which gave the porsche holding company enough money to pay back its debts and keep a 38 percent stake in volkswagen the best part however is that the two executives responsible for the fiasco ended up

Walking scot-free and with millions in severance money now–if barely legal market manipulation another corporate wizardry sounds like something you may be interested in I have good news for you there is a way

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