TokaiCorp.net Undefined Porsche 1,500 Jobs For New Leipzig Factory

Online, February 19, 2014 (Newswire.com) - TokaiCorp.net: Stuttgart-based sports car manufacturer, Porsche, is to create 1,500 new jobs when it opens a new assembly plant in the Leipzig area of eastern Germany on February 14th.

The new factory will build some of the new Macan models that is being billed as the "little brother" to the current Cayenne SUV-like model that has enjoyed considerable popularity with buyers around the world for several years.

"This is a major boon for the Leipzig area which, like many other regions in eastern Germany, dearly needs more jobs," said an Tokai Corp auto sector analyst.

Porsche, like fellow automakers BMW and Volkswagen-Audi, defied the trend among European car makers in 2013 by turning in a strong performance in terms of sales. It has committed €500 million to the new assembly plant which will be located close to a BMW factory in the area which will produce the company's new i3 electric car and its i8 hybrid model.

Auto production is heavily focused in the state of Saxony, so much so that 50% of car manufacturer workers in Eastern Germany are based in the region. Nevertheless, the west still has the most employees in the auto industry with more than 92% based there.

"It is encouraging to see that German manufacturers are still creating jobs in this sector proving that, despite the less-than-stellar global economic environment that continues to prevail at the moment, German car makers still make desirable products that consumers don't mind spending extra on," said the Tokai Corp auto sector analyst.

"This is a major boon for the Leipzig area which, like many other regions in eastern Germany, dearly needs more jobs," said an Tokai Corp auto sector analyst.