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.

As previously reported, Autocar understands there are no plans to create a full electric version of the 911.

Read more

Porsche Mission E latest: EV spotted cold weather testing

Porsche CEO Oliver Blume on the firm's electrified future

Porsche will be 'one of the last cars with a steering wheel'

Join the debate

Comments
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! 

/EX

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".

Add your comment

Log in or register to post comments

Find an Autocar car review

Driven this week

  • Hyundai Nexo 2019 first drive review hero front
    First Drive
    13 July 2018
    Designed from the outset to use a hydrogen fuel cell powertrain, this front-driven crossover provides a taste of the future today
  • Mercedes-Benz A-Class 2018 road test review hero front
    Car review
    13 July 2018
    This new version is the most luxurious A-Class yet, but has Mercedes made it a class leader?
  • Honda CR-V 2018 first drive review hero front
    First Drive
    13 July 2018
    For its fourth-generation, the Honda CR-V grows in size and now offers a choice of five or seven seats, but slims down in terms of engine choices
  • Volkswagen Arteon 1.5 EVO 2018 UK review hero front
    First Drive
    13 July 2018
    Entry-level fastback doesn’t do enough to make the Arteon any more competitive in an already-tough class
  • BMW i8 Coupe 2018 UK first drive review hero front
    First Drive
    13 July 2018
    BMW's flagship i car has received a facelift for 2018. How does it compare to offerings from Porsche?