Porsche Set To Boost Its Investment In Electric Cars

Porsche has always been a credible sports car manufacturer, but it has taken a new project under its belt. Rather, the German automaker wants to change things in the future and become known for performance-orientated electric cars.


Porsche announced that by 2020 it would be doubling its investment in plug-in hybrids and pure EVs to more than $7.43 billion. The company has promised to develop other vehicles on the already pledged Mission E pure electric platform which is due for next year. Further investment will be made in what Porsche is calling “new technologies, charging infrastructure and smart mobility.”

Porsche recently launched their Porsche Passport pilot program in Atlanta after getting into the smart mobility game last year. “Alongside development of our models with combustion engines, we are setting an important course for the future with this decision,” Oliver Blume, chairman of the Porsche AG executive board said in a statement.


The automaker has put a significant amount of their investment into the Mission E development, which will be Porsche’s first full EV. Based on the 2015 concept car, the company has said it will go from 0-62 mph in less than 3.5 seconds, and around 310 miles.

This is Porsche’s mission to build a Tesla Model S rival with their Mission E, and its investment is going to cover upgrades to its assembly plant in Zuffenhausen, Germany for the production of EVs. The funds will also cover creating a charging network since their plan for Mission E is for it to charge in as little as 15 minutes, and this charging network will be expanded to all of its dealers.


While Porsche has never been an electric vehicle company, it may be strange to get your head around the idea. However, it has offered performance-oriented plug-in hybrids in cars such as the quick Panamera Turbo S E-Hybrid. As time goes on, expect more plug-ins of Porsche’s traditional models since the company will focus on maintaining its heritage as all automakers begin making the transition to electrify.