Munich Re: forms joint venture with Porsche
(CercleFinance.com) - Sports car maker Porsche said on Monday that it is forming a joint venture with German insurance group Munich Re to offer "digital production as a service".
The project, called "FlexFactory", aims to make the manufacturing of small series of vehicles, clothing or packaging products "more flexible" and "cost efficient," the companies said in a statement.
"The interest shown by the first potential clients shows us that there is great demand for customised products," they said.
Munich Re said that it is bringing its finance and insurance models and a performance guarantee cover for planned production, as well as its digital risk analysis tools.
The reinsurer will have a 50% stake in the venture.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The project, called "FlexFactory", aims to make the manufacturing of small series of vehicles, clothing or packaging products "more flexible" and "cost efficient," the companies said in a statement.
"The interest shown by the first potential clients shows us that there is great demand for customised products," they said.
Munich Re said that it is bringing its finance and insurance models and a performance guarantee cover for planned production, as well as its digital risk analysis tools.
The reinsurer will have a 50% stake in the venture.
Copyright (c) 2020 CercleFinance.com. All rights reserved.