Porsche expands production, R&D in Asia

Porsche is expanding its presence in Asia with a research and development center in Shanghai, China, and a production site in Malaysia.

The Shanghai R&D location will help Porsche increase the understanding of the Chinese customers and their requirements, as well as improve local product development, the brand said in a statement.

The production site in Malaysia will open in 2022 and be operated in partnership with Malaysian company Sime Darby Berhad. The plant will finish the assembly of models made for the local market only.

"We're proud to be a vibrant, global business and to be investing in localized programs to ensure our cars and services do reflect the specific needs of our markets outside of Europe. To do this best requires a permanent presence," Michael Steiner, Porsche's R&D chief, said in the statement.

"The addition of a Chinese R&D satellite location underlines our commitment to ensuring our cars remain relevant and attuned to our markets," Steiner said.

Porsche China will have its headquarters in Shanghai.

In the first three months of 2021, Porsche China has achieved a robust 56 percent year-on-year growth rate with a total of 21,991 cars delivered.