VW Group firm to double investment in electromobility, including electrified versions of current range and development of forthcoming sports EV
James Attwood, digital editor
5 February 2018

Porsche will invest £5.3bn in electrified vehicle technology by 2022, doubling its previous commitment – including a £447m investment in developing variants and derivatives of the forthcoming all-electric Mission E sports car.

The firm had already committed three billion euros (£2.65bn) to electromobility technology, and the Porsche AG Supervisory Board has now agreed to double that investment. As well as the investment in Mission E variants, the new investment will include £88m in developing electrified and hybrid versions of its current range, and £619m in technology including charging infrastructure and smart mobility.

Porsche is already building a new assembly area and paint shop at its Zuffenhausen plant for the production of the 591bhp Mission E, and has added around 1200 new jobs. 

Porsche CEO Oliver Blume on the firm's electrified future

Albrecht Reimold, Porsche’s executive board member for production, said the first Mission E prototypes were in pilot built, ahead of the model going into production in 2019, with a run of around 20,000 units.

He also hinted that a second generation of Mission E is already being considered, saying: “For the moment we are focusing on the first generation. The iconic 911 is now in its seventh generation, with countless derivatives. Our creativity knows no limits and, naturally, we are also considering derivatives for Mission E – but one thing at a time.”

While the Mission E is Porsche’s first all-electric vehicle, the company has introduced plug-in hybrid versions of existing models, including the new Panamera, aspart of the Volkswagen Group’s target of having an electrified version of every model by 2030.

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5

5 February 2018

Can I Presume this is VAG money not Porsche money.

typos1 - Just can’t respect opinion

5 February 2018

It will be an SUV, won’t it? An electric SUV. I would love to think that Porsche would instead create a zero emission successor to the 356, considerably smaller than the Boxster, but it won’t happen.

5 February 2018

Nope, can’t think of any real “Lemons” they produced in the last twenty years.

Peter Cavellini.

5 February 2018

porsche will have there 992.1 replaced with an boxer 4. and by 2040 there's only 911-e on sale. and trust me they will sell as hot cakes! 

5 February 2018

Difficult to argue that by 2040 the only 91's will be 'e' versions, same for every manufacturer unless the regulations go backwards. Porsche builds a premium product, usually cutting edge in terms of overall performance and dynamics - no one trick Tesla Pony here! As Tom Cruise said, "Porsche - there is no substitute".

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