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Porsche and Volkswagen to cooperate further: paper

FRANKFURT (Reuters) - German sports car maker Porsche PSHG_p.DE and Volkswagen VOWG.DE may cooperate further, German newspaper Automobilwoche reported on Saturday.

Wendelin Wiedeking, CEO of German car manufacturer Porsche, delivers his speech to an extraordinary shareholder meeting in Stuttgart, June 26, 2007. German sports car maker Porsche <PSHG_p.DE> and Volkswagen <VOWG.DE> may cooperate further, German newspaper Automobilwoche reported on Saturday. REUTERS/Kai Pfaffenbach

Volkswagen and its premium brand Audi were interested in Porsche’s lightweight construction of the four-door Panamera model, which is scheduled to hit dealerships in 2009, Porsche development chief Wolfgang Duerheimer told the paper in an article to be published on Monday.

Volkswagen and Porsche already cooperate for the development of hybrid technology.

Separately, German paper Wolfsburger Allgemeine Zeitung reported on Saturday that Volkswagen aims to produce 100,000 more vehicles at its main plant in Wolfsburg, Germany, next year compared to this year.

Germany’s Spiegel magazine also reported without citing sources that Porsche chairman Wolfgang Porsche could join VW’s supervisory board in case Porsche acquires the majority in Europe’s biggest carmaker.

The magazine also named Linde LING.DE chief executive Wolfgang Reitzle as a possible candidate to join the board.

Porsche declined to comment and said the article was based on speculation.

Porsche would gain further seats on Volkswagen’s supervisory board, if acquiring the majority stake in VW.

Porsche holds around 31 percent of Volkswagen and could boost its holding now that a German law capping voting rights at VW has been struck down.

Earlier this week, Porsche formally created a new European holding company that will hold the Porsche and Piech families’ stakes in both companies.

Reporting by Eva Kuehnen

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