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EC probes Germany’s funding of new car, Porsche Macan

By  |  July 11, 2012
EC probes Germany’s funding of new car, Porsche Macan

The European Commission has opened an in-depth investigation into Germany’s regional aid for Porsche Leipzig. Porsche Leipzig is a subsidiary of Volkswagen-Porsche. The aid was to go toward developing the Porsche Macan, a new passenger car model. Germany notified € 521.56 million in aid, of which € 43.67 million was a direct grant and investment premium.

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    Leipzig is eligible for regional aid to further certain large investment projects. However, the Commission is concerned that the thresholds for Volkswagen-Porsche’s market shares and the capacity increase have been exceeded. The Commission’s investigation will determine if the aid is necessary to attract investment into the region, and proportionate.

    Full content: EC Press Release

     

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