Porsche to invest over €6 billion in e-mobility by 2022

By 2022, Porsche plans to invest more than €6 billion in e-mobility, focusing on both plug-in hybrids and purely electric vehicles.

“We are doubling our expenditure on electromobility from around €3 billion to more than €6 billion,” explained 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.”

€3 billion will be invested into material assets and slightly more than €3 billion into development costs which will be divided up for the development of Mission E variants and derivatives, the development of electrification and hybridisation of the existing product range, the expansion of sites, new technologies, charging infrastructure and smart mobility.

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

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

Porsche also is becoming a member of Ionity, a joint venture with Audi, the BMW Group, Daimler AG, and Ford Motor Company with the goal to construct and operate 400 powerful rapid charging stations along the major European traffic routes by 2020. To complement the work of Ionity, the European Porsche dealer network is becoming part of a rapid charging infrastructure.