Porsche Increases Investment In Technology, Including The Blockchain

The German sports car manufacturer Porsche will increase its investment to access future technology and business models by € 150 million or $ 175 million over the next five years. This is artificial intelligence, blockchain, virtual and augmented reality.

Investment activities are carried out by Porsche Ventures, which aims to invest in new start-ups that are at an early stage of development and growth.

Porsche Ventures has recently invested in the Berlin-based gapless blockchain startup and the Zurich-based WayRay startup, which develops and manufactures holographic augmented reality display technologies. He is working on the possibility of seamless integration of virtual objects in the driving experience.

In early March, Porsche began testing blockchain applications directly on cars, becoming the first automaker to use the new technology. It has teamed up with Berlin-based startup XAIN, which offers various blockchain and AI solutions.

Porsche has introduced the Porsche Panamera in the blockchain, using energy-efficient mining process from XAIN. It is also currently working on further applications for the technology, including charging and Parking, as well as locking and unlocking the car through the app.