Porsche Is Now Also Discovering Electromobility

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Porsche Is Now Also Discovering Electromobility
Porsche Is Now Also Discovering Electromobility

Porsche has now also discovered electric mobility for itself. The VW subsidiary will invest 700 million euros in the so-called Mission E. Construction of the 600 hp sports car is due to start at the end of the decade.

The sports and off-road vehicle manufacturer Porsche wants to realize its electric car project. The supervisory board of the VW subsidiary gave the green light on Friday for the associated investments of over 700 million euros at the headquarters in Stuttgart-Zuffenhausen, as the company announced on Friday.

More than 1000 new jobs are to be created in the plant, a paint shop and an assembly hall will be built and the existing engine plant will be expanded for "Mission E", as Porsche calls the project. The construction of the 600 hp four-door sports car is due to start at the end of this decade, and the car is expected to have a range of more than 500 kilometers. "We are consistently accepting the challenge of electromobility," said Porsche boss Oliver Blume.

Price of a good 100,000 euros

The price for the vehicle is still unclear. In industry circles it is estimated that Porsche is based on its US competitor Tesla and that the Stuttgart electric car will cost a good 100,000 euros. The supervisory board also approved management board members: the previous VW manager Albrecht Reimold will be the new Porsche board member for production and logistics. At the parent company Volkswagen, the 54-year-old previously managed the plant in Bratislava, where, among other things, the body for the Porsche Cayenne off-road vehicle is manufactured. Porsche had already presented the "Mission E" in September at the IAA auto show in Frankfurt / Main - for the project to be implemented, however, the approval of the supervisory board was required. It came now.

Experts signaled thumbs up. The car analyst of the Landesbank Baden-Württemberg (LBBW), Frank Biller, attested that the Electroporsche had market potential, even though the topic was ultimately still a long way off and it would not be a question of high unit numbers. "That's a niche - Porsche has had great success in this niche for a long time," said Biller. (dpa)