Oliver Blume, CEO of Porsche and Volkswagen, at the IPO of Porsche SE on September 29.
Image: dpa
The fact that the economic stronghold of Stuttgart was rarely heard in debates is no small problem for Germany either. It’s a good thing that this is now changing with the many Dax companies.
Stuttgart is shaped like no other city by its corporations: Mercedes, Bosch, Porsche, Mahle, Trumpf, Stihl – the list could go on almost forever. Companies that would determine politics and public opinion elsewhere are sometimes hardly worth mentioning here. It seems all the more bizarre that until recently only one Stuttgart company was represented in the leading German stock exchange index Dax, namely the Daimler Group.
Gustave parts
Business correspondent in Stuttgart.
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In the meantime, however, the state capital of Baden-Württemberg has become a Dax stronghold within a very short time, making Munich and the Ruhr area a competitor. Daimler became the car group Mercedes-Benz and the commercial vehicle giant Daimler Truck, both of which still play in the elite league of the German stock exchange after the split. The VW major shareholder Porsche SE managed to rise with the Dax expansion a year ago. At the beginning of this week, after the spectacular IPO in September, which was the second largest worldwide in the year that is coming to an end, the sports car manufacturer Porsche followed.