8. Sep 2026
Description
(AWP Alliance News) - Porsche SE, the biggest shareholder in Volkswagen, is investing in a second rocket company as it expands its interests in the space industry.
The investment holding company, controlled by the Porsche and Piëch families, said on Tuesday it had acquired a stake in US space company Stoke Space Technologies with an investment in the low double-digit millions.
Stoke Space is developing a two-stage launch vehicle designed to be fully reusable, according to Porsche SE.
Full reusability could allow rockets to be launched more frequently and at significantly lower cost than conventional launch vehicles.
Elon Musk's SpaceX is currently the only other company pursuing a similar approach, Porsche SE said.
Demand for rocket launches is high and is currently met almost exclusively by SpaceX, said Hans Dieter Pötsch, chairman of the board of management of Porsche SE.
"Stoke Space is pursuing a unique and highly promising technological approach," Pötsch said. "This makes the company a highly attractive investment."
The deal marks Porsche SE's second investment in a space company. In 2021, the holding company invested in Bavarian rocket start-up Isar Aerospace, acquiring a stake in the low single-digit percentage range.
Isar Aerospace develops and manufactures launch vehicles for transporting satellites into space.
The maiden launch of Stoke Space's Nova rocket is planned for early 2027, Porsche SE said.
Copyright 2024 dpa. All Rights Reserved
