Don Edwards
Active Member
Porsche(R) Will Build Fourth Model Line: Porsche Panamera(R)
Board Approves Four-Door Sports Coupe for 2009 Launch
ATLANTA, July 27 /CNW/ -- The Supervisory Board and the Board of
Management of Dr. Ing. h.c. F. Porsche AG, Stuttgart, gave their approval
today for the development and production of another Porsche model line. To be
called Panamera, the new car will be a premium-class sports coupe with four
seats, four doors, and a choice of front-mounted engines driving the rear
wheels.
(Photo: http://www.newscom.com/cgi-bin/prnh/20050727/CLW057 )
Scheduled to enter the market in 2009, the Panamera will be the fourth
model line from the Stuttgart carmaker following the 911(R), the Boxster(R)
and the Cayenne(R). The new car's name is derived from the legendary Carrera
Panamericana long-distance race.
Production of the Panamera is to be in Leipzig, where Porsche already
builds the Cayenne SUV and the Carrera GT(R) supercar. The final decision will
require further detailed talks between the Board of Management of Porsche AG
and the Management of Porsche Leipzig GmbH with representatives of the
employees. Porsche's total investment in the new model line, including
development, will be more than Euro 1 billion and will come entirely from the
company's own funds. Expected sales are at least 20,000 units a year.
"The Panamera is a perfect fit for Porsche," said Dr. Wendelin Wiedeking,
the President and CEO of Porsche AG. "It has all the typical DNA
characteristic of a genuine sports car. In terms of performance, design, and
driving dynamics, it meets Porsche's high standards in every respect. Through
this sports coupe we are making our customers a highly attractive offer in the
top performance segment."
Porsche will develop and build the Panamera using the company's own
resources. "We will be developing a separate platform for our fourth model
line at our Weissach R&D center," said Wiedeking. "There are no plans for a
joint venture with another car maker, but to ensure the profitability of this
new model line we will cooperate more closely than so far with selected system
suppliers."
Production of the Panamera in Leipzig would potentially create some 600
new jobs there. In the course of the project, approximately 400 more new jobs
will be created at Porsche's original plant in Stuttgart-Zuffenhausen, where
the engines for the fourth model line will be built, and at the Weissach
Development Center.
Like the 911, the Boxster and the Cayenne, the Panamera will bear the
"Made in Germany" stamp of quality. Domestic share of the Panamera's overall
assembled value will be approximately 70 percent.
Porsche Cars North America, Inc. (PCNA), based in Atlanta, Ga., and its
subsidiary, Porsche Cars Canada, Ltd., are the exclusive importers of Porsche
sports cars and Cayenne sport utility vehicles for the United States and
Canada. A wholly owned, indirect subsidiary of Dr. Ing. h.c. F. Porsche AG,
PCNA employs approximately 300 people who provide Porsche vehicles, parts,
service, marketing and training for its 208 U.S. and Canadian dealers. They,
in turn, provide Porsche owners with best-in-class service.
/Photo: NewsCom: Porsche(R) Will Build Fourth Model Line: Porsche Panamera(R)
Board Approves Four-Door Sports Coupe for 2009 Launch
ATLANTA, July 27 /CNW/ -- The Supervisory Board and the Board of
Management of Dr. Ing. h.c. F. Porsche AG, Stuttgart, gave their approval
today for the development and production of another Porsche model line. To be
called Panamera, the new car will be a premium-class sports coupe with four
seats, four doors, and a choice of front-mounted engines driving the rear
wheels.
(Photo: http:/
Board Approves Four-Door Sports Coupe for 2009 Launch
ATLANTA, July 27 /CNW/ -- The Supervisory Board and the Board of
Management of Dr. Ing. h.c. F. Porsche AG, Stuttgart, gave their approval
today for the development and production of another Porsche model line. To be
called Panamera, the new car will be a premium-class sports coupe with four
seats, four doors, and a choice of front-mounted engines driving the rear
wheels.
(Photo: http://www.newscom.com/cgi-bin/prnh/20050727/CLW057 )
Scheduled to enter the market in 2009, the Panamera will be the fourth
model line from the Stuttgart carmaker following the 911(R), the Boxster(R)
and the Cayenne(R). The new car's name is derived from the legendary Carrera
Panamericana long-distance race.
Production of the Panamera is to be in Leipzig, where Porsche already
builds the Cayenne SUV and the Carrera GT(R) supercar. The final decision will
require further detailed talks between the Board of Management of Porsche AG
and the Management of Porsche Leipzig GmbH with representatives of the
employees. Porsche's total investment in the new model line, including
development, will be more than Euro 1 billion and will come entirely from the
company's own funds. Expected sales are at least 20,000 units a year.
"The Panamera is a perfect fit for Porsche," said Dr. Wendelin Wiedeking,
the President and CEO of Porsche AG. "It has all the typical DNA
characteristic of a genuine sports car. In terms of performance, design, and
driving dynamics, it meets Porsche's high standards in every respect. Through
this sports coupe we are making our customers a highly attractive offer in the
top performance segment."
Porsche will develop and build the Panamera using the company's own
resources. "We will be developing a separate platform for our fourth model
line at our Weissach R&D center," said Wiedeking. "There are no plans for a
joint venture with another car maker, but to ensure the profitability of this
new model line we will cooperate more closely than so far with selected system
suppliers."
Production of the Panamera in Leipzig would potentially create some 600
new jobs there. In the course of the project, approximately 400 more new jobs
will be created at Porsche's original plant in Stuttgart-Zuffenhausen, where
the engines for the fourth model line will be built, and at the Weissach
Development Center.
Like the 911, the Boxster and the Cayenne, the Panamera will bear the
"Made in Germany" stamp of quality. Domestic share of the Panamera's overall
assembled value will be approximately 70 percent.
Porsche Cars North America, Inc. (PCNA), based in Atlanta, Ga., and its
subsidiary, Porsche Cars Canada, Ltd., are the exclusive importers of Porsche
sports cars and Cayenne sport utility vehicles for the United States and
Canada. A wholly owned, indirect subsidiary of Dr. Ing. h.c. F. Porsche AG,
PCNA employs approximately 300 people who provide Porsche vehicles, parts,
service, marketing and training for its 208 U.S. and Canadian dealers. They,
in turn, provide Porsche owners with best-in-class service.
/Photo: NewsCom: Porsche(R) Will Build Fourth Model Line: Porsche Panamera(R)
Board Approves Four-Door Sports Coupe for 2009 Launch
ATLANTA, July 27 /CNW/ -- The Supervisory Board and the Board of
Management of Dr. Ing. h.c. F. Porsche AG, Stuttgart, gave their approval
today for the development and production of another Porsche model line. To be
called Panamera, the new car will be a premium-class sports coupe with four
seats, four doors, and a choice of front-mounted engines driving the rear
wheels.
(Photo: http:/
