The initial concept work for the new Panzer started on the 23rd March 1942 and initially it was proposed that the chassis design for the VK4502 could be adopted from the VK4501 with very little modification aside from that needed to fit the new turret and ammunition stowage. But as time went on, views on what was needed on future battle fields caused significant changes to be initiated in armour protection for the tank and it was not until late may early July 1942 that the hull design was finalised. The hull design consisted of sloping plates for increased projection, the 80mm glacis plate was sloped at 55 degrees, 80mm superstructure side plates at 15 degrees, 80mm hull side plates 0 degrees vertical, 80mm upper tail plate at 60 degrees, 80mm lower tail plate at 25 degrees and 40 to 25mm deck plates at 90 degrees horizontal and 20mm belly plate at 90 degrees horizontal. The drive train consisted of two Porsche Type 101/3 10 cylinder engines connected to electric generators providing power to a pair of electric motors, one for each sprocket. The running gear and tracks for the VK4502 were identical to the VK4501 range of tanks. The expected top speed of the tank was 35 Kph and the combat weight was expected to be 45 tonnes.
The turret for the VK4502 was also designed by professor Porsche and would mount the 8.8cm Kw.K. L/71. 68 rounds for this gun were carried in the tank 42 in horizontal panniers along the superstructure sides, 10 horizontally on the floor and 16 rounds stored horizontally in the turret.
Production contracts for manufacture were given to Fried.Kruppe AG Essen on the 4th of February 1942 for 100 VK4502 armour shells along with 100 turret shells. The armour hulls were to be delivered to the Nibelungwerk GmbH, St. Valentin for assembly and the turrets to Fried.Kruppe AG Ruhr for assembly. Kruppe was to begin production of the armour as soon as they completed work for the 100 VK4501 hulls currently under manufacture. On the 17th of April 1942 a verbal extension to this contract would see the number of tanks hulls ordered increased to 200 units with a chassis numbers of 150101 - 150300.
During a visit to Krupp in May 1942 Dr. Porsche was told that the first four hulls would be ready in October instead of August 1942. Also at this time to enhance the ability to modify the hull and their interior components Krupp was ordered only to complete 30 Type 180 Hulls and only prepare plates for the rest.
In July 1942 Krupp contacted the Nibelungenwerk confirming that delivery of the first 30 hulls were expected on time and that material for 50 hulls had already been prepared and in the most part rolled out. Krupp estimated a delivery of 15 hulls per months to the Nibelungwerk.
The project however took a serious setback that same month when the Porsche designed 101/3 engine failed during its testing. This lead Wa J Rue on the 3rd of November 1942 to informed Krupp that the contracts for the VK4502 Hulls and turrets were terminated and in its place a separate contract for only three Versuchs-panzers was placed.
A Krupp report dated the 15th of January 1943 reported that 20 Armour turret bodies for the VK4502 had already been manufactured and around 40 to 50 were under construction at the time of cancellation with an additional 50 turrets worth of individual plates available for assembly.
On the 25th January 1943 permission was given to Krupp to assemble three operational turrets for the VK 4502. A further report sent this time from Krupp on the 28th January reported that the three hulls for the VK4502 had been delivered to the Nibelungwerk. This was confirmed by a letter from Dr Porsche dated 17th February 1943 stating that three Tiger P2 VK4502 with electric drives are being completed at the Nibelungwerk. The letter goes on to state that production vehicles would feature new hydraulic drives, a new suspension system and an air-cooled diesel engine.
Nothing more is heard about the fate of the VK4502 until 25th April 1944 when Krupp reported that one of the turrets for the tank was completed and the other two were close to completion. Then on the 22nd of August 1944 at the request of Wa Pruef 6 the remaining turrets were converted for use on the Henschel chassis.