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Porsche and Volkswagen to cooperate further: paper

Loren

By Loren
in News, Information, Rumors

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Loren Member

Loren

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FRANKFURT (Reuters) - German sports car maker Porsche (PSHG_p.DE: Quote, Profile, Research) and Volkswagen (VOWG.DE: Quote, Profile, Research) may cooperate further, German newspaper Automobilwoche reported on Saturday.

Volkswagen and its premium brand Audi were interested in Porsche's lightweight construction of the four-door Panamera model, which is scheduled to hit dealerships in 2009, Porsche development chief Wolfgang Duerheimer told the paper in an article to be published on Monday.

Volkswagen and Porsche already cooperate for the development of hybrid technology.

Separately, German paper Wolfsburger Allgemeine Zeitung reported on Saturday that Volkswagen aims to produce 100,000 more vehicles at its main plant in Wolfsburg, Germany, next year compared to this year.

Germany's Spiegel magazine also reported without citing sources that Porsche chairman Wolfgang Porsche could join VW's supervisory board in case Porsche acquires the majority in Europe's biggest carmaker.

The magazine also named Linde (LING.DE: Quote, Profile, Research) chief executive Wolfgang Reitzle as a possible candidate to join the board.

Porsche declined to comment and said the article was based on speculation.

Porsche would gain further seats on Volkswagen's supervisory board, if acquiring the majority stake in VW.

Porsche holds around 31 percent of Volkswagen and could boost its holding now that a German law capping voting rights at VW has been struck down.

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