Porsche to Invest Billions into Electric Cars

Are the days of the gas and diesel powered Porsches numbered? The German automaker has announced a plan to drastically increase investments in electric technology, including hybrid and full-electric vehicles.

The development plan includes doubling their current investment in electric tech, resulting in over six billion euros towards the future of electric Porsches. “Alongside development of our models with combustion engines, we are setting an important course for the future with this decision,” says Oliver Blume, Chairman of the Executive Board of Porsche AG.

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Within this investment are a few notable developments. If you recall, Porsche introduced the Mission E concept two years ago as the brand’s first fully-electric vehicle. Now, the investment that Porsche is planning on making will include variants and derivatives of the Mission E.

Current plans for Porsche’s electric expansion include:

One billion into electrification and hybridization of current range
Several hundred million into expansion of sites
700 million euro into new tech, charging infrastructure and smart mobility
Expanding existing Zuffenhausen engine plant for manufacturing of electric drives

So far, the Mission E project has created 1,200 new jobs and Porsche is surely planning on many more. What do you think about an all-electric Porsche? Would you pick one up over a combustion engine-powered Porsche? Let me know in the comments below!