Porsche announces that it is doubling its electric vehicle investment to ‘more than six billion euro’


Your daily selection of the hottest trending tech news!

According to Electrek

With all the excitement around the Mission E, Porsche’s first all-electric vehicle, the German automaker announced that it is doubling its electric vehicle investment to ‘more than six billion euro’ in order to release variants based on the vehicle.

Oliver Blume, Chairman of the Executive Board of Porsche AG, made the announcement today:

“We are doubling our expenditure on electromobility from around three billion euro to more than six billion euro. Alongside development of our models with combustion engines, we are setting an important course for the future with this decision.”

The 3 additional billion will be split like this:

  • 500 million euro will be used for the development of Mission E variants and derivatives
  • around one billion euro for electrification and hybridisation 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.

Porsche has been teasing the possibility to develop variants and derivatives of the Mission for a while now, but today is the first time that they’ve announced a significant investment to make it happen.

In the past, there have been rumors about Lamborghini building an all-electric supercar on a Porsche Mission E platform.

When it comes the investment in charging infrastructure, Porsche referenced Ionity, the ‘ultra-fast’ joint electric car charging network by BMW, Mercedes, Ford and Volkswagen, which is now starting to take shape in Europe.

They also talked about the Porsche dealer network becoming part of a nationwide rapid charging infrastructure.

The company’s whole electric vehicle rollout is expected to start in a significant way next year when the Mission E hits the market.

As we reported last week, Porsche says that it already has all-electric Mission E production prototypes and the production line is going up this year for volume production in 2019.

Electrek’s Take

I said it before, but I’m going to say it again: Porsche is extremely serious about electric vehicles.

The fact that they plan a production rate of 20,000 cars per year for the Mission E is a fairly good indication. While it doesn’t appear to be that many cars, it is significant for an automaker producing 200,000 to 250,000 cars per year.

Furthermore, Porsche plans for 50% of its production to be electric within 6 years, which is more aggressive than any other major automaker. It’s still not enough in my opinion, but they get points for being more ambitious.

Finally, they are aware of that they need to take charging infrastructure seriously and the fact that they are starting out with an 800-volt system appears to be pushing the industry forward.

Read more…

  • Got any news, tips or want to contact us directly? Email esistme@gmail.com

__

This article and images were originally posted on [Electrek] February 5, 2018 at 10:39AM. Credit to Author and Electrek | ESIST.T>G>S Recommended Articles Of The Day

 

 

 

Advertisements

One Reply to “Porsche announces that it is doubling its electric vehicle investment to ‘more than six billion euro’”

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s