Porsche AG approves the €1 billion ($1.2 billion) development and production of a 4-door sports coupe to be called Panamera, named after the storied Carrera Panamericana distance race. Porsche releases sketch of Panamera. The rear-wheel-drive car will hit the market in 2009 and represent the fourth vehicle line for the German auto maker, in addition to the 911, Boxster and Cayenne vehicles. The vehicle will come with various engine options and be built in Leipzig, Germany, alongside ...

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