Porsche Unveils the Cayenne and Officially Opens its New Factory

ATLANTA, Aug. 22 -- On Tuesday, Federal German Chancellor Gerhard Schroder and Dr. Wendelin Wiedeking, President and Chief Executive Officer of Dr. Ing. h.c. F. Porsche AG, revealed Porsche's Cayenne sport utility vehicle during the inauguration of the company's new production facility in Leipzig, Germany. Some 1,300 invited guests and German dignitaries attended the surprise debut of Porsche's third model line, which in 2003 will join Porsche's current lineup that includes the Boxster and the legendary 911 Carrera.

The Cayenne S and Cayenne Turbo will be presented to the public for the first time at the Paris Motor Show, which will open on Sept. 28, 2002. The Cayenne S base price in the United States is $55,900 ($78,250 Canadian), while the base U.S. price for the Cayenne Turbo is $88,900 ($125,100 Canadian).

Porsche invested around 128 million euro into its new facility, which took approximately two-and-a-half years to build. In addition to the assembly plant, Porsche Leipzig also includes a Customer Center, the break-in and test track and an adjacent course for off-pavement driving. All were declared officially open on Tuesday.

"For us Porsche people, Leipzig has become a second home town after Zuffenhausen," Weideking said. Porsche's president and CEO said that in addition to building cars of sporting character in Leipzig, Porsche also will help enhance the city's good name throughout the world and will be actively involved in many aspects of the historic city's social and cultural fabric.

Both the Cayenne S and the Cayenne Turbo feature an all-new Porsche-designed 4.5-liter V-8 engine that will be built in Stuttgart-Zuffenhausen, Germany, as well as permanent four-wheel drive. Porsche innovations such as the Porsche Active Suspension Management (PASM), Porsche Traction Management (PTM), and the Porsche Stability Management (PSM) systems and a six-speed Tiptronic S automatic transmission will help both Cayenne models deliver excellent on- and off-pavement driving qualities.

Porsche Cars North America, Inc. (PCNA), based in Atlanta, Ga., and its subsidiary, Porsche Cars Canada, Ltd., are the exclusive importers of Porsche vehicles for the United States and Canada. A wholly owned, indirect subsidiary of Dr. Ing. h.c. F. Porsche AG, PCNA employs approximately 200 people who provide Porsche vehicles, parts, marketing and training for its 203 U.S. and Canadian dealers. They, in turn, provide Porsche owners with best-in-class service.