The talented Ferdinand Porsche lived a colourful life. Keystone / Getty Images
The talented Ferdinand Porsche lived a colourful life. Keystone / Getty Images

Ferdinand Porsche, famed for first hybrid, Beetle and link with Hitler



The life and career of Ferdinand Porsche is one of the most fascinating and intriguing in the annals of motoring history. Creator of one of the most exclusive marques on the road, he found fame and fortune designing the people's car. Though Porsche became synonymous with speed, he was the inventor of the world's first hybrid; though his cars are among the most beautiful and streamlined on the road, he spent several years as head of the Tank Commission under the Third Reich; though he was lavished with honours, he spent time behind prison bars. His was a life of contrasts and challenges.

Born in 1875 in the Austro-Hungarian empire, the young Porsche joined an electrical firm in Vienna, inventing the electric hub motor. Then he moved to Lohner & Co, which built elegant, custom carriages for the royal houses of Europe. He designed its first electric carriage that required an astounding 1,800kg of lead-acid batteries and even then struggled to drive up hills. Porsche's solution was to combine battery power with an internal combustion engine, in so doing inventing the hybrid car. It was this invention, engineering acumen and eye for smart design that was to see him recognised as car engineer of the century by the Global Automotive Elections Foundation in 1999.

His connection with royalty continued when he was conscripted into the imperial army in 1902 and was a chauffeur for Archduke Franz Ferdinand. Twelve years later, thankfully with Porsche no longer behind the wheel, this dashing aristocrat was assassinated in Sarajevo, an act of terrorism that lit the fuse that sparked the First World War.

After spending 20 years at Daimler (later Mercedes-Benz), during which time he brought unprecedented success on the track, he left for new challenges until, in 1929, like many men across the world, Porsche found himself unemployed and penniless after the Wall Street crash. In Germany, hyperinflation ran so out of control that people used Deutschmarks to cover their walls as it was cheaper than paper. In such times one needs influential friends and Porsche came under the wing of his fellow countryman, a certain Adolf Hitler.

Hitler had a project to beat the depression, modernise Germany and bring international awe and approval for his Reich. He wanted to create a "people's car" that every German citizen could own and be proud of. And he wanted Porsche to design it. Porsche signed the contract for what would become known as the Beetle in 1934. In a very shrewd piece of business, Porsche negotiated a small percentage royalty on every Beetle sold. He could not have imagined that production of his awe-inspiringly simple design would eventually top 22 million. With his financial future secured, he could think about his own models under his own name.

As with other motoring pioneers such as Louis Renault and William Morris, Porsche turned his genius to the national and military cause. Over the course of the war he designed armoured cars, tanks, guided missiles and even fighter planes for the Luftwaffe. Unlike many of his motoring contemporaries, his war was one of committed service rather than forced acquiescence. Indeed, it is widely believed that Porsche was involved in and possibly even oversaw forced slave labour in wartime factories. Though there is little research or evidence of factory conditions by the end of the war, Volkswagen's factory force was 90 per cent non-German, conscripted from occupied and displaced territories.

Having won international renown for the Beetle, Porsche had been offered an unlimited budget to develop a people's car for Communist Russia over lunch with Joseph Stalin. Having declined this offer, perhaps the biggest design commission in motoring history, he was invited to a meeting to design such a car for France at the conclusion of the war. However, this was just a ruse to snare him and he was arrested for war crimes, having made several visits to Peugeot factories during the war. Held in a Dijon prison for 20 months, his son kept the business going and managed to raise US$62,000 for his release.

By now an old man in failing health, Porsche worked with his son to create the first mainstream model that would carry his name. The iconic, Beetle-inspired 356 was launched in 1949, two years before his death. His son, Ferry, also a very talented engineer, built the brand and established it as one of the most revered on the road. In 1963, he assured the long-term future of the company by unveiling the legendary 911.

Email sent to Uber team from chief executive Dara Khosrowshahi

From: Dara

To: Team@

Date: March 25, 2019 at 11:45pm PT

Subj: Accelerating in the Middle East

Five years ago, Uber launched in the Middle East. It was the start of an incredible journey, with millions of riders and drivers finding new ways to move and work in a dynamic region that’s become so important to Uber. Now Pakistan is one of our fastest-growing markets in the world, women are driving with Uber across Saudi Arabia, and we chose Cairo to launch our first Uber Bus product late last year.

Today we are taking the next step in this journey—well, it’s more like a leap, and a big one: in a few minutes, we’ll announce that we’ve agreed to acquire Careem. Importantly, we intend to operate Careem independently, under the leadership of co-founder and current CEO Mudassir Sheikha. I’ve gotten to know both co-founders, Mudassir and Magnus Olsson, and what they have built is truly extraordinary. They are first-class entrepreneurs who share our platform vision and, like us, have launched a wide range of products—from digital payments to food delivery—to serve consumers.

I expect many of you will ask how we arrived at this structure, meaning allowing Careem to maintain an independent brand and operate separately. After careful consideration, we decided that this framework has the advantage of letting us build new products and try new ideas across not one, but two, strong brands, with strong operators within each. Over time, by integrating parts of our networks, we can operate more efficiently, achieve even lower wait times, expand new products like high-capacity vehicles and payments, and quicken the already remarkable pace of innovation in the region.

This acquisition is subject to regulatory approval in various countries, which we don’t expect before Q1 2020. Until then, nothing changes. And since both companies will continue to largely operate separately after the acquisition, very little will change in either teams’ day-to-day operations post-close. Today’s news is a testament to the incredible business our team has worked so hard to build.

It’s a great day for the Middle East, for the region’s thriving tech sector, for Careem, and for Uber.

Uber on,

Dara

Results

6.30pm Al Maktoum Challenge Round-3 Group 1 (PA) US$100,000 (Dirt) 2,000m, Winner Bandar, Fernando Jara (jockey), Majed Al Jahouri (trainer).

7.05pm Meydan Classic Listed (TB) $175,000 (Turf) 1,600m, ​​​​​​​Winner Well Of Wisdom, William Buick, Charlie Appleby.

7.40pm Handicap (TB) $135,000 (T) 2,000m, ​​​​​​​Winner Star Safari, Mickael Barzalona, Charlie Appleby.

8.15pm Handicap (TB) $135,000 (D) 1,600m, Winner Moqarrar, Fabrice Veron, Erwan Charpy.

8.50pm Nad Al Sheba Trophy Group 2 (TB) $300,000 (T) 2,810m, Winner Secret Advisor, William Buick, Charlie Appleby.

9.25pm Curlin Stakes Listed (TB) $175,000 (D) 2,000m, ​​​​​​​Winner Parsimony, William Buick, Doug O’Neill.

10pm Handicap (TB) $135,000 (T) 2,000m, Winner Simsir, Ronan Whelan, Michael Halford.

10.35pm Handicap (TB) $175,000 (T) 1,400m, ​​​​​​​Winner Velorum, Mickael Barzalona, Charlie Appleby.

Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.