Porsche is entering into an all-new tech joint venture with its partner, UP.Labs, called Pull Systems. Thanks to its impressive sales figures and a successful IPO, Porsche is in a strong financial position and is now looking to invest in the latest technologies.
The Pull Systems venture offers a “machine-learning-as-a-service” business, selling analytics software to automakers that provide critical data and analysis through the use of AI. This platform gives automakers insight into electronic components and batteries, although Porsche has not provided specific use cases for the technology.
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Tesla has successfully demonstrated the importance of vehicle data and analysis, particularly in the development of its autonomous driving system. Tesla continually gathers data from its vehicles to improve the Full Self Driving system and its capabilities, and has used this dataset to improve vehicle safety by analyzing hundreds of thousands of vehicle collisions.
Porsche’s “startup ecosystem” aims to increase innovation and employ the latest technologies within its vehicles. The automaker has already invested in numerous startups and is part of various venture partnerships, including “Startup Autobahn,” which invests in startups in Germany’s transportation sector.
Porsche’s partner, UP.Labs, is a well-funded venture capital firm that invests in the future of transportation and mobility. The firm has already invested in several companies, including electric aircraft startup BETA, electric semi-trailer manufacturer Range, and remote-controlled construction equipment provider Teleo.
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Investments in the latest technology will be crucial as automakers seek to differentiate their upcoming electric vehicles. Hopefully, these investments will lead to higher quality, better performing, and safer vehicles in the near future. Lutz Meschke, Deputy Chairman of the Executive Board of Porsche, said, “With UP.Labs, we are expanding our digital ecosystem to include an external venture lab. In this way, we are strengthening Porsche’s digital expertise and entering into an exchange with international talents and their know-how.”
