Porsche and Munich Re launch the FlexFactory

Sports-car manufacturer Porsche , its management and IT consulting subsidiary MHP, and Munich Re have launched the FlexFactory to make the production of small series of all kinds of different products in the manufacturing industry more flexible and cost-efficient.

The FlexFactory serves as a consultancy and business enabler and can support the actual implementation of a specific customer project; enabling manufacturing companies to implement innovations or article variants faster and more efficiently than in the traditional production process, and with less capital input.

The offerings combine Porsche’s manufacturing know-how; MHP’s digital process optimization, and Munich Re’s guarantee coverage for planned production. Moreover, Munich Re’s subsidiary relayr adds digital risk analysis via IoT sensor systems to the mix.

The concept was tested by the partners over the last few months in the context of a concrete implementation scenario in Porsche’s body shop, simulating and optimizing the production of various components (e.g. variants of a car door) on one production line.

“The interest shown by the first potential clients shows us that there is great demand for customised products. This joint venture is still small, but it is perfectly formed. It can solve the challenge of producing even small series economically and thus open up a new chapter in industrial production. That is why we are combining the production competence of Porsche with the software know-how of MHP and the risk management expertise of Munich Re.” – Deputy Chairman of the Executive Board and Member of the Executive Board, Finance and IT at Porsche AG, Lutz Meschke.

“With the FlexFactory, we and our partners have created a future-oriented platform for opening up new markets, which addresses a central challenge of modern production. Our cooperation once again underlines Munich Re’s innovative power and solution competence as a risk manager and financing expert for Industry 4.0.” – Member of Munich Re’s Board of Management, Torsten Jeworrek.

“It is our aim to create significant added value for our customers and for the entire economy with digital, flexible solutions and technological innovations. By bundling the strengths of Munich Re and Porsche with the depth of our expertise in digital technologies we can now do just that even in micro-scale custom production while simultaneously maintaining highly cost-effectiveness.” – Founder, shareholder and Chairman of the Board of MHP, Ralf Hofmann.

The shareholders in FlexFactory GmbH are Porsche and MHP (25% each) and Munich Re (50%). FlexFactory’s managing directors are Phillipp Hypko and Philip Plattmeier.