UPDATE 1-Porsche gives green light for fourth model line

Newswire

(Adds background, details) FRANKFURT, July 27 (Reuters) - Porsche will invest some 1 billion euros ($1.21 billion) to develop a new four-door, four-seat "Panamera" sports coupe with the aim of selling at least 20,000 units per year starting in 2009, it said on Wednesday. Ending months of speculation, the German luxury carmaker said management and board members had finally given the green light for the hotly anticipated fourth model line, equipped with various front-mounted engines and ...

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