Subject: Re: VW (Volkswagen)
Ownership structure has always been an issue with VW valuation. At one time ( and maybe still)the total market cap of VW was less than the value of its ownership interest in Porsche.

Volkswagen's low valuation, which some investors trace back to Volkswagen's ownership structure related corporate governance issues, has been a long-standing problem that even the landmark listing of its Porsche AG (P911_p.DE) division last year has failed to solve.

https://www.reuters.com/busine...

Lately all legacy auto manufacturers have been hit by brutal competition from Chinese EV car manufacturers and the massive costs of catching up.