Karmann, which assembles vehicles, and specialises in convertibles, is planning to expand its development activities.
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The Financial Times Deutschland said the company wants to reduce its dependence on vehicle assembly, which is subject to severe fluctuations.
Karmann reportedly said it is searching for an additional 50 engineers.
The company expects to produce considerably fewer vehicles in 2005 than last year, when it manufactured a total of 94,000 cars, according to the paper. This is partly due to the fact that some of the models the company produces, such as the Audi A4 and the Chrysler Crossfire, are becoming older.
As an independent manufacturer, Karmann produces cars on behalf of other brands. Several manufacturers such as Volkswagen, Audi and Mercedes have recently said that they may withdraw contracts with independent companies such as Karmann, in order to ensure more use of capacity at their own factories.
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By GlobalDataKarmann most recently achieved a turnover of EUR2.8bn, the Financial Times Deutschland added.
