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.
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.