Porsche plans to invest more than six billion euro in electromobility by 2022
Porsche plans to invest more than six billion euro 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. “We are doubling our expenditure on electromobility from around three billion euro to more than six billion euro,” 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.” The plans include around three billion euro of investment in material assets, and slightly more than three billion euro in development costs.
Additionally the company says, some 500 million euro will be used for the development of Mission E variants and derivatives, around one billion euro for electrification and hybridization of the existing product range, several hundred million for the expansion of sites, plus around 700 million euro in new technologies, charging infrastructure, and smart mobility.
In Zuffenhausen, a new paint shop, dedicated assembly area, and 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 reportedly created approximately 1200 new jobs.
The electric Mission E sports car has a system power of 600 hp (447 kW), and can reach 0 to 100 km/h (62 mph) in 3.5 seconds; it will also reportedly be able to accelerate and brake repeatedly without any loss of performance, and it will offer a range of 500 km (310 mi) in the NEDC. An 800-V system voltage offers a charging time of 15 minutes for 400 km (248 mi).
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. To complement the work of Ionity, the Porsche dealer network is becoming part of a nationwide rapid charging infrastructure.
The new Panamera will have two variants. Both variants offer a purely electric range of up to 50 km (31 mi). The Panamera Turbo S E-Hybrid is the flagship model in the model line. It offers a combination of performance and efficiency, with a 4-L V8 engine and an electric motor generating a system power of 680 hp (507 kW).