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.
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 Center. 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.
Read more at Porsche to Invest More than US$7.5 Billion in Electromobility by 2022; $622M Slated for Mission E
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