Eurokars Group and Porsche Announce New Venture in Singapore to Explore New Automotive Retail Concepts
New venture to be formed between Eurokars Group and Porsche Asia Pacific
Karsono Kwee, Executive Chairman of Eurokars Group, to be appointed Chairman of the Advisory Board
Singapore recognised as a dynamic market with innovation focus and strong digital immersion
Singapore. Eurokars Group and Porsche jointly announce today the formation1 of Porsche Singapore Pte. Ltd., a new venture set to explore emerging automotive retail concepts which will continue to create customer-centric experiences in the city-state.
The new venture will elevate the long-standing cooperation between Porsche and Eurokars Group, distributor for Porsche cars in Singapore and Indonesia since 1985 and 2002, respectively. Mr. Karsono Kwee, Executive Chairman of Eurokars Group, will be appointed Chairman of the Advisory Board.
Ideally located at the centre of where East meets West, Singapore has successfully transformed itself from a bustling port city to an innovation hub, positioning itself as a lighthouse for digitalisation, technology and sustainability.
Against this landscape, Porsche and Eurokars have been reaching out to customers and fans in new ways with recent experiential event activations like The Art of Dreams Singapore at The Promontory @ Marina Bay and the brand pop-up #DrivingTomorrow at Jewel in collaboration with Changi Airport Group.
Since the introduction of the Taycan in Singapore in 2019, Porsche has also been pushing the envelope for electromobility; it currently offers one of the largest open-to-public manufacturer-branded charging networks in the country with Porsche Destination Charging.
Encouraged by the positive response on these initiatives, Eurokars and Porsche are looking to transform experiences in the future with this new venture from next year onwards.
The foundation of Porsche Singapore Pte. Ltd. comes on the back of a record year for sales in 2021, and a strong first quarter for Porsche in 2022 despite exceptional circumstances affecting the wider automotive industry. Porsche Asia Pacific also revealed strong sales figures for the same periods.
1Closing of the transaction is subject to requisite regulatory clearances.
About Porsche Asia Pacific Pte Ltd
Porsche Asia Pacific Pte Ltd is a subsidiary of Dr. Ing. h.c. F. Porsche AG, a leading sports car manufacturer based in Stuttgart, Germany. Best known for the 911 model line, Porsche also produces the Cayenne, Macan, Panamera, 718 Boxster and 718 Cayman models. In 2019, it introduced the Taycan as the first fully-electric sports car.
Porsche Asia Pacific commenced operations on 1 October 2001 and currently oversees 13 countries from its headquarters in Singapore: Brunei, Cambodia, French Polynesia, Indonesia, Malaysia, Mongolia, New Caledonia, New Zealand, the Philippines, Singapore, Sri Lanka, Thailand and Vietnam. As a market incubator, it offers support to its importers and dealers in After Sales, Business Development, Marketing, New Business Fields, Public Relations and Sales, helping them to further professionalise operations and cater to customer needs to ultimately grow their business.
About Eurokars Group
Eurokars Group is synonymous with premium and luxury automotive brands in Singapore, Indonesia, China, and Australia. Eurokars Group was founded by respected entrepreneur Mr. Karsono Kwee, Executive Chairman of the Group. Driven by a genuine passion for motorcars, Mr. Kwee has turned the Group into a well-diversified and leading customer-oriented automotive conglomerate in the region. Eurokars has represented the Porsche brand in Singapore and Indonesia since 1985 and 2002, respectively.