Porsche ready to pour €6 billion into electrification cause

The investment targets the next four years

Porsche's efforts towards electromobility are not a secret anymore, but Stuttgart is continuously looking at ways of speeding up the process.

Its latest move sees Porsche investing six billion euro in plug-in hybrids and all-electric cars by 2022.

"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."

Oliver Blume, Porsche AG Chairman of the Executive Board

Moreover, Porsche says €500 million will be injected into R&D works for the Mission E (including the model's variants and derivatives) while €1 billion would serve with hybrid and electric conversions of models currently found in the carmaker's range.

Furthermore, "several hundred million" are allocated for site expansions in Zuffenhausen and Weissach, while €700 million will serve "new technologies, charging infrastructure and smart mobility."

Speaking of the Mission E, it's worth noting that the project generated in the region of 1,200 new jobs. When ready to meet the asphalt, the Mission E will rely on a 600 hp electric powertrain to accelerate from 0 to 100 km/h (62 mph) in 3.5 seconds. NEDC range is estimated at 500 km (310 miles). In addition, charging the car for 15 minutes can add 400 km (roughly 250 miles) worth of range.

Read more about IONITY, the European fast-charging network opening this year under the BMW, Daimler, Ford and VW Group collabo.

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