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Porsche Plans to Offer Hybrid Vehicle

July 30, 2007

WEISSACH, Germany --- Porsche AG has launched a new hybrid program and plans to introduce a hybrid vehicle within three years, the company announced. According to an Associated Press report, Porsche's Cayenne hybrid is under development in part with Volkswagen AG and Audi AG. The hybrid version is expected to reduce the vehicle's fuel consumption by almost one-third. Michael H. Leiters, head of the company's new hybrid program, said the move is part of a broader company effort to change the company's gas-guzzling image.
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