Porsche gave this drawing of the Panamera
Porsche says that the Panamera will go on sale in 2009 and it will be powered by various engines, while the car will be rear-wheel-driven.
The Panamera name is derived from the legendary Carrera Panamericana long-distance race.
Porsche's total investment in the new model series, including development, will be more than €1bn and will come entirely from the Company's own funds. Expected sales are at least 20 000 units a year.
Production of the Panamera is to be in Leipzig, where Porsche already builds the Cayenne Sports Utility and the Carrera GT High-Performance Sports Car.