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Entirely new mechanics and IIRC a new more powerful engine, while also having to upgrade the front suspension due to the weight increase and imbalance at the front caused by twice as much armor to the front as the rear. There might have been something to balance the weight toward the back. It wasn't just a simple armor adjustment.
They didn't use just steel, but rather a heavier alloy with nickel, tungsten, molybdenum, and manganese.That is the common excuse but it doesn't stand up very well.
Steel weighs 40lbs per square ft for a 1 in thickness. As a rough measure 20mm is 80% of 1in (25.4mm) or 32lbs per square ft. A chunk of armor 6.435 ft wide (distance between the tracks) and 10 ft high (roughly figuring 5 feet from hull floor to hull roof, I can't read the numbers in drawing and doubling the height for a 60 degree angle (not 55) gives a weight of armor of 2059lbs. Doesn't count the wings/triangles over the tracks counts the lower front plate.
As the war progressed, Germany was forced to reduce or no longer use certain critical alloy materials in the production of armor plate, such as nickel, tungsten, molybdenum, and manganese; this resulted in lower impact resistance levels compared to earlier armor.[53] Manganese from mines in the Ukraine became unavailable when the German Army lost control of this territory in February 1944. Allied bombers struck the Knabe mine in Norway and stopped a key source of molybdenum; other supplies from Finland and Japan were also cut off. The loss of molybdenum, and its replacement with other substitutes to maintain hardness, as well as a general loss of quality control resulted in an increased brittleness in German armor plate, which developed a tendency to fracture when struck with a shell. Testing by U.S. Army officers in August 1944 in Isigny, France showed catastrophic cracking of the armor plate on two out of three Panthers examined.[54][55]
Panther would probably only be available in mid 44 or later because you have to develop everything engine/gearbox related stuff anew.
Due to it's layout they had a lot of space for engine/gearbox in the rear, that wouldn't be possible in a standard tank layout.
Plus the transmission system used by DB was said to be very unreliable. No idea about the engine/gearbox layout used in it though.
There was nothing excessive in the length of Panther's hull - it was in the ballpark with Comet, just a bit longer than Cromwell and T-34. KV-1's hull was a bit longer than Panther's.