Global shifts force Porsche to halt expansion plans

Business 31 March 2025 09:11

Porsche said it was halting a development plan for a new testing center in Puglia amid a "complicated context" for the auto sector including US President Donald Trump's 25% tariffs on car imports to the USA, CE Report quotes ANSA.

"The Porsche Group has decided not to continue the development plan of the Nardò Technical Center (NTC), the testing center in Puglia managed by Porsche Engineering," said the German sportscar maker.

In March 2024, the Puglia Region suspended the program agreement necessary for the approval of the project, extending this suspension until the end of March 2025".

The Porsche group underlined that "the testing activities will continue to be carried out at the site".

Among the various factors considered, "the current context, increasingly complex, and the changes underway in the automotive sector at a global level had a significant impact".

Tags

EU Climate Talks in Bulgaria

25 April 10:00

Minister of Environment and Water Manol Genov met with European Commissioner for Climate, Net Zero and Clean Growth Wopke Hoekstra on Thursday to discuss key EU climate policies, the Ministry of Environment reported.

EU Talks Future of Aviation

24 April 23:30

In Brussels, EU Commissioner for Sustainable Transport and Tourism Apostolos Tzitzikostas met with top aviation leaders, including the Board of ACI Europe, Boeing, Airbus, and Fraport, to discuss the European Commission’s upcoming Aviation Strategy.

Bulgaria, Germany Boost Tourism Ties

24 April 21:30

Tourism Minister Miroslav Borshosh met with German Ambassador to Bulgaria Irene Maria Plank to discuss ways to boost the number of German tourists visiting Bulgaria, the Ministry of Tourism announced Thursday.

Greece Supports Renters and Growth

24 April 17:30

Development Minister Takis Theodorikakos emphasized the Greek government's methodical approach to economic policy during an interview with ANT1 on Thursday.

EV Sales Surge as EU Market Slips

24 April 16:00

New car registrations in the EU fell by 1.9% in the first quarter of 2025 compared to the same period last year, with March alone showing a marginal 0.2% year-on-year decline, according to the European Automobile Manufacturers Association (ACEA). The drop comes amid ongoing global economic challenges impacting automakers.

Greece to Repay Loans Early

24 April 13:30

Greece aims to repay its first memorandum loans a decade early, by 2031 instead of 2041, according to National Economy & Finance Minister Kyriakos Pierrakakis.

Greece Cuts T-Bill Rate

23 April 23:55

Greece successfully raised €500 million on Wednesday through a 26-week Treasury bills auction, securing a lower interest rate of 1.90%, down from 2.00% in the previous sale.

EU Fines Apple and Meta

23 April 23:30

The European Union has imposed major fines on U.S. tech giants Apple and Meta in its first enforcement action under the new Digital Markets Act (DMA), signaling a tougher approach to regulating Big Tech.

Global shifts force Porsche to halt expansion plans

Tags

Related articles

Most read

Press Releases

Features