Porsche today announced a $685 million investment in a new production facility in Leipzig, Germany for production of the upcoming smaller crossover, the Cajun. The Cajun is due to reach retail sale in late 2013.

The Cajun will be the smaller companion to the Cayenne in the Porsche lineup. If the success of the Cayenne and the newer Panamera sedan are any indication, the Cajun should be a huge success for the brand in terms of sales volume and profitability.

While precise details on the Cajun itself are yet to be revealed, we expect it will lean heavily on Audi and Volkswagen shared parts, including a 3.0-liter diesel TDI engine good for something like 310 horsepower and 480 pound-feet of torque. A gasoline version is also a certainty, with early indications that a turbocharged four-cylinder engine could get the nod.

Performance, as always with Porsche, will still be a priority despite its crossover nature. A five-door model will likely be the core version, but a sportier three-door variant has been discussed.

At the same time, it will likely focus on a fairly low price point for the Porsche brand, balancing luxury and capability with cost-effective and profitable construction and design. Exactly what sort of balance Porsche will be able to strike will be interesting to see; fortunately we have only two more years until we find out.