Volkswagen shareholders are calling for a restructuring of the business model after Porsche SE reported a 21% drop in profit.

Volkswagen shareholders, especially Porsche SE, the company's largest investor, have called for a restructuring of the business model after the difficulties of the German car manufacturer affected the holding's profit.

Porsche SE reported a 21% decrease in adjusted profit after tax in the first quarter, reaching 382 million euros, while the unadjusted net result recorded a loss of 923 million euros due to an accounting depreciation of 1.3 billion euros of its stake in Volkswagen. Porsche SE Chairman Hans Dieter Poetsch emphasized the need to realign business models. Volkswagen is facing challenges such as competition from China, trade tariffs, and the transition to electric vehicles. CEO Oliver Blume promised to accelerate cost-cutting measures, including layoffs, and mentioned factories with low utilization rates.

Additionally, Porsche SE is diversifying its investments in areas such as artificial intelligence and the defense industry, generating revenue from the sale of its stake in the startup Celestial AI.