Connect with us

Hi, what are you looking for?

Capital Business
Capital Business

World

Porche to build Cajun SUV in Leipzig

FRANKFURT, Mar 16 – German luxury automaker Porsche said Wednesday it would build its new Cajun SUV in Leipzig, eastern Germany and create more than 1,000 jobs in the process.

The company\’s supervisory board has decided to construct a full-fledged facility in Leipzig with body assembly and painting operations, a statement said, in response to sustained demand for its four-wheel drive models.

Work on the 400 hectare (1,000-acre) site is to begin this year once approval by local authorities has been granted and production could begin in 2013, it added.

Porsche has had operations in the economically-disadvantaged eastern German city since 2002 and its present site employs some 650 people who manufacture Cayenne SUVs and the new four-door Panamera model.

Porsche boss Matthias Mueller said the decision to build the smaller Cajun there was "proof of confidence in the capacities of our workers in Leipzig, as well as a contribution to the region\’s economic development."

The carmaker\’s headquarters is in Stuttgart, southern Germany, where some 5,000 people are employed, along with another 3,000 at a development centre in Weissach, which is also in the German state of Baden-Wuerttemberg.

Additional jobs would be created at those sites too, Porsche said.

Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...