The Porsche brand will have to pay €100 million ($113 million USD at current exchange rates) to Volkswagen Commercial Vehicles’ as compensation for backing out on a production deal.
Automotive News reports that an internal deal has been struck within the Volkswagen Group to allow Porsche to build its upcoming high-performance EV at its own site, rather than at the Volkswagen Commercial Vehicles’ Hanover plant.
Previous plans would have had the Porsche vehicle built at the site alongside its sister vehicles from Audi and Bentley. All were supposed to be built as part of Audi’s Artemis Project, which would create new technologies for highly automated vehicles.
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