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A few days ago, German high-end sports car manufacturer Porsche said that it will increase investment in the electrification of all models by 2022 as parent company Volkswagen reacts to environmental scandals and new challenges from abroad
.
By 2022, Porsche plans to invest 6 billion euros in electric vehicles
Stuttgart-based Porsche said it will invest more than 6 billion euros in the development of hybrid and battery-powered vehicles
over the next five years.
Of the additional €3 billion that has been disclosed, around €500 million will be used to develop Porsche's flagship, all-electric vehicle, codenamed Mission E, scheduled for release
by the end of 2019.
Porsche says the model will have 600 horsepower and a range of 500 kilometers, which will become a rival
to American electric car leader Tesla.
The additional cash of around EUR 1 billion will be used to develop electric and hybrid models of existing models, hundreds of millions of euros will be used to expand the site and around EUR 700 million will be used to establish a network
of fast charging stations for electric vehicles.
Despite growing skepticism about European technology since the Volkswagen "dieselgate" emissions fraud scandal broke in 2015, Porsche hasn't completely abandoned the traditional internal combustion engine
.
Porsche's investment in electric vehicles is part of the
Volkswagen Group's acceleration in the rollout of electric vehicles.
Porsche CEO Oliver Bloom said that despite the increased cost of manufacturing electric vehicles, the high-end model subsidiary aims to maintain an operating margin
of 15% over the long term.
，
A few days ago, German high-end sports car manufacturer Porsche said that it will increase investment in the electrification of all models by 2022 as parent company Volkswagen reacts to environmental scandals and new challenges from abroad
.
By 2022, Porsche plans to invest 6 billion euros in electric vehicles
By 2022, Porsche plans to invest 6 billion euros in electric vehiclesStuttgart-based Porsche said it will invest more than 6 billion euros in the development of hybrid and battery-powered vehicles
over the next five years.
Of the additional €3 billion that has been disclosed, around €500 million will be used to develop Porsche's flagship, all-electric vehicle, codenamed Mission E, scheduled for release
by the end of 2019.
Porsche says the model will have 600 horsepower and a range of 500 kilometers, which will become a rival
to American electric car leader Tesla.
The additional cash of around EUR 1 billion will be used to develop electric and hybrid models of existing models, hundreds of millions of euros will be used to expand the site and around EUR 700 million will be used to establish a network
of fast charging stations for electric vehicles.
Despite growing skepticism about European technology since the Volkswagen "dieselgate" emissions fraud scandal broke in 2015, Porsche hasn't completely abandoned the traditional internal combustion engine
.
Porsche's investment in electric vehicles is part of the
Volkswagen Group's acceleration in the rollout of electric vehicles.
Porsche CEO Oliver Bloom said that despite the increased cost of manufacturing electric vehicles, the high-end model subsidiary aims to maintain an operating margin
of 15% over the long term.
，
