Porsche to Double E-mobility Investment by Billions of Euros by 2022

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Porsche Mission E

Increase includes both plug-in hybrids and purely electric vehicles.

Porsche has been putting together an unprecedented future development plan: By 2022, the sports car manufacturer will invest more than six billion euros in e-mobility, focusing on both plug-in hybrids and purely electric vehicles. The decision was made by the Porsche AG Supervisory Board at its most recent meeting.

“We are doubling our expenditure on electromobility from around three billion euros to more than six billion euros,” explains Oliver Blume, Chairman of the Executive Board of Porsche AG. “Alongside development of our models with combustion engines, we are setting an important course for the future with this decision.” The plans have been bolstered significantly to include around three billion euros of investment in material assets and slightly more than three billion euros in development costs.

 

‘Alongside development of our models with combustion engines, we are setting an important course for the future with this decision.’

 

From the additional sum of three billion euros, some 500 million euros will be used for the development of Mission E variants and derivatives, around one billion euros for electrification and hybridization of the existing product range, several hundred million for the expansion of sites, plus around 700 million euros in new technologies, charging infrastructure and smart mobility.

At Porsche AG’s headquarters site in Stuttgart, a new paint shop, a dedicated assembly area, and a conveyor bridge for transporting the painted bodies and drive units to the final assembly area are currently being constructed. The existing engine plant is being expanded to manufacture electric drive trains and the body shop will also be developed.

Investment is also planned for the Weissach Development Center. The Mission E project has created approximately 1,200 new jobs.

The purely electric Mission E sports car has a system power of 600 hp, meaning that it is estimated to require fewer than 3.5 seconds to sprint from 0 to 100 km/h. It will also be able to accelerate and brake repeatedly without any loss of performance, and it will offer a range of 500 kilometers on the New European Drive Cycle (NEDC). The charging time will be very short: Thanks to the 800-V system voltage, it will take approximately 15 minutes for 400 kilometers.

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