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• DaimlerChrysler presents F 400 Carving research vehicle with dynamic chassis technology at the Tokyo Motor Show 2001
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• Chevrolet Introduces The "Cruze" Compact Lifestyle Vehicle at the Tokyo Motor Show 2001, Jointly Developed By GM, Suzuki
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• Porsche invests approx. 250 million marks in Leipzig
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• Toyota and Daihatsu Announce Plans for Tokyo Motor Show
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• Andrej Barcak To Take Over European Remarketing And Used Vehicles
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• Seita Kanai and the new Mazda 6
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• Ford Reports Third Quarter Loss
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• Audi still enjoying record-breaking success
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• GM, Ford And DaimlerChrysler Go After Parts Counterfeiters
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• Valeo announces a plan to close its Baumenheim plant in Germany
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News of  October 24, 2001
.

Porsche invests approx. 250 million marks in Leipzig

Topping out ceremony for the future customer service centre next to the new Cayenne plant

Stuttgart/Leipzig - Dr. Ing. h.c. F. Porsche AG, Stuttgart, will have invested a total of 250 million marks in the new production site in Leipzig with the market launch of its sporty off-road Sports Utility Vehicle, Cayenne, in the second half of 2002. This investment will create a total of approximately 300 permanent jobs at the Porsche Leipzig GmbH subsidiary alone. This was announced by Dr. Wendelin Wiedeking, Chairman of the Board of Management of Porsche AG, at today's topping out ceremony for the future customer service centre which is being presently established on the Leipzig Porsche plant site next to the already completed Cayenne assembly plant.

In the presence of the State leader of Saxony, Professor Kurt Biedenkopf, the Mayor of Leipzig Wolfgang Tiefensee and approx. 700 guests - including all construction workers and the employees of Porsche Leipzig GmbH - the carpenters involved in the construction today placed the topping-out ceremony wreath on the roof of the customer service centre. After its completion next year, the tower-shaped building will provide a service to worldwide Porsche customers who wish to collect their new Cayenne directly from the plant or who would like more information about Porsche's off-road Sports Utility Vehicle.

They will be offered a widely-ranged program of events to enable them to gain an extensive insight into the production, the company and the site of Leipzig directly at the "birthplace" of the Cayenne. Furthermore, they will become familiar with the technical abilities of the Cayenne on the running-in and test route at the customer service centre and on the adjacent cross-country route under expert guidance. In his speech, Wiedeking described the multi-storey customer service centre as a "symbol of the economic emergence of a fascinating town in the 21st century". He is certain that the Saxon trade fair city will soon be considered as one of the liveliest and most attractive economic locations in Europe and emphasised: "Leipzig was and is the best choice we could have made."

Wiedeking retrospectively interpreted the spontaneous embrace made by the Mayor of Leipzig Wolfgang Tiefensee on the first cut of the spade for the adjoining assembly plant in February 2000 as a symbolic gesture for the future: "Leipzig has received Porsche with open arms in every respect. For this, I would like to thank the people of Leipzig today, also on behalf of all Porsche employees. We are proud to have become a part of this city."

Biedenkopf explained that Porsche had provided a boosting contribution to the economic development of Leipzig and the Free State of Saxony through its establishment in Leipzig. The Saxon State leader explained: "We try to foster introduction of investors to Saxony. You belong to it from now on and I am pleased how well Porsche has settled in to Leipzig. Saxony wishes the company all the best for its launch of the Cayenne. The off-road Sports Utility Vehicle will make our Free State even more well known as an industrial location." In his speech, Tiefensee referred to the "positive signal effect", which the location choice of Porsche AG had made on other potential investors. "Porsche was the first car manufacturer to come to Leipzig", said the Mayor. "We will never forget that."

During the celebration, Wiedeking announced that the career school centre 4 in Leipzig will now be named "Prof. Dr. Ing. h.c. Ferdinand Porsche" in tribute. He explained "We don't only want to demonstrate our presence in Leipzig, but also to do justice to our political responsibility in society as a company and employer". This also applied to the Porsche donation in May of an amount of 3.5 million marks for restoring the famous Ladegast organ in St. Nikolai's Church in Leipzig and to the commitment as a founding sponsor of Leipzig's "Technology centre for young persons" (TCJ).

The Chairman of Porsche AG's Board of Management viewed the chances of success of the Cayenne, which will start its series production in Leipzig in the coming year, as very positive. Wiedeking: "With our third series after the 911 and Boxster, we are pushing open the door to the worldwide market of Sports Utility Vehicles which has an above average growth rate. As a premium model with Porsche "genes" coursing through its veins and which can also boast the 'Made in Germany' stamp of quality, the Cayenne will grasp the lead in this segment." Porsche expects to be able to sell at least 25,000 of its sporty off-road Sports Utility Vehicles every year on the world market.

(October 19, 2001)

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