At the 2000 Internationale Waffen-Ausstellung (IWA - International Weapons Exhibition) in Nuremberg, Walther announced a new PPK variant designated as the PPK/E. The PPK/E resembles the PPK/S and has a blue steel finish; it is manufactured under license by FEG in Hungary. Despite the resemblance between the two, certain PP-PPK-PPK/S parts, such as magazines, will not interchange with the PPK/E. The official factory photographs do not refer to the pistol's Hungarian origins; instead, the traditional Walther legend ("Carl Walther Waffenfabrik Ulm/Do.") is stamped on the left side of the slide. The factory announcement mentions that the PPK/E is made with "new manufacturing technologies", presumably in an effort to reduce costs.
As of May 2008, the PPK/E bore a suggested retail price in Germany of 441 euros, almost 200 euros cheaper than the PPK and PPK/S models imported from the U.S. The PPK/E is offered in .22 LR, .32 ACP, and .380 ACP calibers.
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