The Porsche Company is an evolution of an engineering firm founded by Ferdinand Porsche in 1931. It is best known for designing the Volkswagen in the 1930s. When World War II came to a close, Ferry (Porsche's son), developed a new sports car that would prove to be very successful and popular. Production of the Type 356 began in Gmund Austria in 1947. The company was later moved to Stuttgart.

At the 1953 Paris Auto Salon, Porsche unveiled their 550 Spyder. It had an air cooled 1500cc four-cylinder engine with four cams and was developed by Dr. Fuhrmann. Power was rated at 110 hp at 7800 RPM. Over ninety cars were produced including one owned by James Dean.

In 1956, Porsche introduced an improved version, dubbed the 550A. It had a completely new space frame with major improvements to the suspension and engine and a boost in power to 135 hp. It was a very successful road racing car and was driven by many famous drivers including Stirling Moss.

In 2004, a complete restoration was begun that required extensive work. A completely new body and correct body was fabricated since the original body had been scrapped. The work was completed in 2010 and the car was driven at the 2010 Monterey Motorsports Reunion.