Automaker expands investment in electromobility
From the Mission E to the plug-in hybrid 911, Porsche is preparing for a future of high-performance green cars. To achieve this vision, Porsche announced it will double its investment in electromobility by 2022. Part of this investment will support the development of Mission E variants and derivatives, the company said.
Porsche expanded its original investment by 3 billion euros, roughly $3.7 billion USD at today’s exchange rates. Around 500 million euros ($621 million USD) of this money will go toward making spinoffs of the 600-hp Mission E. One billion euros ($1.2 billion USD) will allow it to electrify models in its existing lineup.
Porsche will also spend around 700 million euros ($869 million USD) to bolster the charging infrastructure, smart mobility services, and other new technologies. In a joint venture with BMW, Daimler, and Ford, Porsche and Audi are working to open 400 rapid charging stations across Europe by 2020.
A recent report from Automotive News said Porsche wants to develop a platform for electric sports cars and supercars. The platform could underpin a Porsche 918 successor and an electric R8. It’s also likely to be shared with other brands such as Lamborghini and Audi.
Late last year, Porsche’s parent company, Volkswagen Group, announced it would invest around 34 billion euros on electrification, autonomous driving, mobility services, and digitalization through the end of 2022. The company has also said it will offer an electrified variant of every model in its lineup by 2030.