The German holding company Porsche Automobil Holding SE has created in 2010 a full size luxury car as an addition to its superior line of cars. This was called the Porsche Panamera type number 970, which has a front engine, rear wheel drive or front engine, four wheel drive layout. This is assembled in Leipzig, Germany and was displayed at the 13th Auto Shanghai International Automobile Show in April 2009.
In April 2007, a spy video of the Panamera was released on the internet, and it was only in September of the following year that a teaser video of the car was released by the manufacturer. The Panamera is available as a five door fastback and as a Gran Turismo, or a high performance luxury car designed for long distance driving. The name Panamera was derived from the Carrera Panamericana race, and was created as a product of the Porsche 989 concept way back in the 1980s.
Among the key competitors of Porsche Panamera include the Audi 8, the BMW 7 Series, BMW 5 Series Gran Turismo, Mercedes Benz S Class, Mercedes Benz CLS-Class, Aston Martin Rapide, and the Maserati Quattroporte. Other versions of the car include the Panamera Turbo S, the Panamera S hybrid, and the Panamera Diesel. The Panamera Platinum Edition was also marketed in October 2012 as a limited edition version, where each dealer gets two samples at most.