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Filed under: Performance, Europe, Hirings/Firings/Layoffs, Plants/Manufacturing, Porsche, Luxury

Porsche is investing heavily in research and development to stay ahead of the company's impressive sales growth. Automotive News reports the German automaker is spending more than 10 percent of its revenue on research and development. That figure comes from Wolfgang Hatz, Porsche's head of R&D (for comparison's sake, automakers spend between five and six percent).

A main component of the spending splurge will see Porsche hiring more than 300 engineers in 2012 as part of an effort to increase the company's core staff by around 10 percent. Porsche hired a similar number of engineers in 2010 on top of replacing staff members who left as part of standard turnover.

Porsche is hard at work on the next-generation Cayman as well as the new 918 Spyder and the Cajun small CUV, all of which are headed to market in 2013. Previously, Porsche has made it clear the German sports car maker will create around 1,000 new jobs a year as part of its current business strategy.Porsche looking to hire 300 engineers in 2012 originally appeared on Autoblog on Thu, 05 Jan 2012 17:59:00 EST. Please see our terms for use of feeds.

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