Porsche SE's supervisory board is set to approve the production of its 918 Spyder hybrid sports car at a meeting next week, according to two people with direct knowledge of the matter.
Porsche plans to develop the vehicle at a research facility in Weissach near Stuttgart, Germany, and build it at the main plant in Zuffenhausen, said the people, who asked not to be identified because the information is confidential. The July 28 board meeting may also discuss Porsche's financial performance for the year ending July 31, they said.
The 918 Spyder, one of three hybrid models Porsche presented at the Geneva auto show in March, has attracted at least 2,000 non-binding submissions of interest, people familiar with the matter said on July 12. Porsche needs at least 1,000 sales pledges to sign off on building the car, development chief Wolfgang Duerheimer said in April.
"The Spyder will pay off for Porsche even though it may only come in limited numbers," said Tim Schuldt, an analyst at Equinet AG in Frankfurt who recommends buying the stock. The vehicle may be introduced in about three years, Schuldt said.
The supercar, which soars to 100 kilometers an hour in 3.2 seconds, may be priced at about 500,000 euros ($640,000), topping the Carrera GT as Porsche's costliest model, people familiar with the matter said July 12. No more than 1,500 units of the Carrera GT were produced.
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