PORSCHE’S SIX-BILLION-EURO PLUG-IN MASTERPLAN

Porsche plots serious progress in electric cars by 2022

Porsche has announced plans to invest no less than six billion euros into developing pure-electric and plug-in hybrid cars by 2022. The plan represents a doubling of Porsche’s existing commitment to so-called electromobility.

“We are doubling our expenditure on electromobility from around three billion euro to more than six billion euro”, explains Oliver Blume, Chairman of the Executive Board of Porsche AG. “Alongside development of our models with combustion engines, we are setting an important course for the future with this decision.”

The money will be split roughly equally between plant and infrastructure on the one hand and developing new car models on the other. Of the circa three billion additional euros earmarked in the new plan, Porsche says 500 million will fund the production version of the Mission E pure-electric cars and variants of that model, one billion euros will be spent on electrifying and hybridising existing models and 700 million will go on new technologies including charging stations.

Part of that is a proposed new charging network. Porsche and Audi are representing the VW Group in Ionity, a joint venture with the BMW Group, Daimler AG and Ford Motor Company. The aim is to construct 400 powerful rapid charging stations along the major European traffic routes by 2020. Construction began back in 2017. The Porsche dealer network is also set to become part of this rapid charging infrastructure.

At Porsche’s Zuffenhausen plant, meanwhile, 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 Centre. Overall, the Mission E project has created approximately 1200 new jobs and looks set to dictate the character and shape of Porsche and its product portfolio.