Porsche has announced it will invest more than €1,1 billion ($1,2 billion) through 2020 in the expansion of its Zuffenhausen, Ludwigsburg and Weissach locations in order to boost productivity, flexibility and efficiency. The investment is part of the “Fit for the Future” agreement, which also rules out redundancies until the end of the decade.
Porsche’s investments include a new engine plant and a new body shop in Zuffenhausen, as well as the expansion of the assembly line. In addition to the Porsche 911 and the Boxster, the plant will build the current and future generations of the Porsche Cayman as of August 2016.
Furthermore, Zuffenhausen is likely to build a new model line in the future. “For our future, we still need enormous growth at the locations and in the region. That is only possible with another model series, which has to be developed in Weissach and built in Zuffenhausen,” said Uwe Hück, Chairman of the General Works Council of Porsche AG. The company has yet to make a decision on its seventh model line.
“Like all car makers, Porsche faces major challenges – a volatile economic situation, strict CO2 requirements, new drive technologies and the progression of digital technology”, says Matthias Müller, Chairman of the Executive Board of Porsche.
“This all entails capacities being bound and requires large-scale investments. That is why we are checking and optimizing all processes and procedures within the company and set the right course in good time,” the executive added.
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