July 28, 2005
Porsche to build new four-door car
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Atlanta, Georgia – Porsche has given its approval for the development and production of an all-new four-door car, called the Panamera. It will be a premium performance car with four seats, four doors, and a front-mounted engine with rear-wheel-drive.
Scheduled to enter the market in 2009, the Panamera will be Porsche’s fourth model line, joining the 911, Boxster/Cayman and Cayenne. The new model’s name is derived from the Carrera Panamericana long-distance race.
The Panamera will be built in Leipzig, Germany, the current home of the Cayenne and Carrera GT. It is expected that at least 20,000 will be sold annually.
“The Panamera is a perfect fit for Porsche,” said Dr. Wendelin Wiedeking, 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 company resources and a new, separate platform. Production will potentially create 600 new jobs in Leipzig and 400 more at the engine plant and development centre in Stuttgart-Zuffenhausen.