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Porsche to invest more than US$7.5 billion in electromobility by 2022; $622M slated for Mission E

Porsche plans to invest more than €6 billion (US$7.5 billion) in electromobility by 2022, 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.

The planned spending will double the company’s expenditure on electromobility from around €3 billion, said Oliver Blume, Chairman of the Executive Board of Porsche AG. The spending plans have been bolstered to include around €3 billion of investment in material assets, and slightly more than €3 billion in development costs.

Some €500 million ($622 million) will be used for the development of Mission E variants and derivatives (earlier post), around €1 billion (US$1.2 billion) for electrification and hybridization of the existing product range, several hundred million for the expansion of sites, plus around €700 million ($871 million) in new technologies, charging infrastructure and smart mobility.

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The electric Mission E concept at IAA 2015. Click to enlarge.

In Zuffenhausen, a new paint shop, 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 drives and the body shop will also be developed. Investment is also planned for the Weissach Development Centre. The Mission E project has created approximately 1200 new jobs.

The purely electric Mission E sports car has a system power of 600 hp, with a 0 to 100 km/h time of less than 3.5 seconds. It will offer a range of 500 kilometers (311 miles) in the NEDC. With its 800V system, fast charging will take only 15 minutes for 400 kilometers of range.

Porsche, along with Audi, is representing the Volkswagen Group in Ionity, a joint venture with the BMW Group, Daimler AG and Ford Motor Company. The goal of this venture is to construct and operate 400 powerful rapid charging stations along the major European traffic routes by 2020. Construction began back in 2017. (Earlier post.) To complement the work of Ionity, the Porsche dealer network is becoming part of a nationwide rapid charging infrastructure.

Plug-in hybrid. The release of the new Panamera sees the third generation of the Porsche plug-in hybrid drive on the road in two different variants. Both variants offer a purely electric range of up to 50 kilometers. The Panamera Turbo S E-Hybrid is the flagship model in the model line, with a four-liter V8 engine and an electric motor generating a system power of 680 hp. (Earlier post.)

Since the market launch, around 60%of all vehicles in this model line delivered in Europe were equipped with these state-of-the-art drives. This figure was significantly higher on incoming orders in some countries and even reached around 90% in Scandinavia.

Comments

HarveyD

TESLA will soon have serious competition from a very well established manufacturer with deep pockets?

A new bullet type BEV with 500 Km range and rapid charging will chalenge the best Model S and X models from TESLA. However, the new TESLA Roadster with 1000+ Km range may walk away with honor?

Interesting development in ultra quick e-sport cars.

SJC

Four motors for four wheels is the ultimate, like Mercedes SLC EV.

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