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Porsche Automobil Holding SE has taken a stake in US space company Stoke Space with an investment in the low double-digit million-euro range. Stoke Space is developing a two-stage, fully reusable launch vehicle (“Nova”), with a first flight planned for early 2027. CEO Hans Dieter Pötsch emphasizes strong demand for launch capacity and sees Stoke Space as a competitor to SpaceX; it is Porsche SE’s second space investment after Isar Aerospace. » More on manager-magazin.de

European auto stocks recovered for a sixth day and the Stoxx Europe 600 Automobiles & Parts climbed back above its 50‑day line, but remains down about 13% year‑to‑date. Porsche stood out, rising after a buy recommendation from Citigroup, which raised its price target to €56 and cited results, operating margins and CEO Michael Leiter’s focus on costs and higher margins as drivers. Volkswagen, Mercedes and BMW also bounced back from recent lows. Goldman Sachs warns that growing pressure from Chinese competitors in Europe could create political pressure and potential protectionism. » More on de.investing.com

Porsche is withdrawing all orders from its Magdeburg plant until the end of September, after which supplier Weber Magdeburg, according to IG Metall, faces insolvency proceedings as of October 1. Around 140 employees at the Magdeburg site are affected, and further jobs in Markdorf and Neuenbürg are at risk. The union is calling on those responsible to take action and sharply criticizes the decision. » More on t-online.de