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| PORSCHE EXPANDS LEIPZIG PLANT FOR 150 MILLION EUROS |
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German Federal Minister of Transport Wolfgang Tiefensee assessed the assembly of the
Panamera in Leipzig as further proof that Eastern Germany is an excellent investment
location. The excellent infrastructure and the well educated work force are the advantages
for this location that Porsche in Leipzig can utilize", the minister emphasized. At the same
time, he also noted that the sports car manufacturer also stands for social responsibility. This
increasingly includes the responsibility for climate protection, which the company perceives
will further reduce fuel consumption in its vehicles: The development of a hybrid drive for the
Cayenne and Panamera models built in Leipzig can prove to be future oriented," the minister
explained.
In his speech, Saxony's Minister President Georg Milbradt emphasized that Porsche is again
investing its own financial resources in the Sachsen location and is not taking up any state
subsidies: "That underscores once again the competitiveness of Saxony in the automotive
industry and the attractiveness of our location," the Minister President said. According to
Milbradt, not only does Leipzig profit from such a large investment, but also the supplier
industry in Vogtland, the Erzgebirge and Oberlausitz. Leipzig's mayor Burkhard Jung was
also pleased about the construction of the plant: Today, an important step has been taken
along the way to production of the Panamera. This is a good day for the city of Leipzig and
the entire region," Jung stressed.
While the Panamera engines will be manufactured at the Porsche headquarters in Stuttgart-
Zuffenhausen, the Volkswagen plant in Hanover will supply the painted chassis. The vehicle
will then be assembled in the Leipzig plant. For the Panamera, Porsche thus arrives at an in-
house production level of 15 percent. An added value of six percent is allotted to the
Hanover-manufactured chassis. Since Porsche primarily works together with German
suppliers, around 70 percent of the added value of the Panamera takes place in Germany.
Porsche Executive Board member Michael Macht is convinced that this car "Made in
Sachsen" will become a worldwide sensation: Not only will this provide a thrust for Porsche's
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