The titanic power struggle between Porsche and Volkswagen will come to a climax this week.

Uwe Hück, head of Porsche's works committee defied Volkswagen's takeover, saying: “You can't make a Porsche out of Polo parts.”

Media reports confirm that trade union IG Metall is threatening indefinite strikes and factory sit-ins to disable production.

Hück said a Volkswagen takeover would endanger Porsche's 11,000 jobs, and would only serve to fulfil the dream of Ferdinand Piech, head of VW and co-owner of Porsche.

According to Hück, Piech wants to be “the sole ruler of both companies”.

“He doesn't care if that costs us jobs,” he added.“Porsche workers have made galactic profits in the last 14 years, and will now fight galactically for independence.”

Porsche's current crisis is a result of its failed attempt to take over Volkswagen, which resulted in catastrophic debts for the sports car company.

It is currently negotiating with Arab Emirate Qatar among others in order to try to relieve its financial burden, which is estimated at more than €9 billion (£7.8 billion).

Hück told the Süddeutsche Zeitung daily newspaper that Porsche employees had come up with a plan for saving the company. They want Piech and the Porsche family to invest €2.5 billion in the company.

They say a further €2.5 billion should come from other shareholders, and then the rest could be provided by an outside investor.

A meeting of the two companies' boards of directors is planned for Thursday to discuss the takeover. Among the issues to be resolved will be the compensation package for Porsche chief executive Wendelin Wiedeking, who is likely to be sacked soon.

Wiedeking earned about €77 million last year, and could expect a package of up to €100 million, according to some media reports.