• Category: News

Porsche to Manufacture Electric Sports Car in £500m investment

Porsche is all set to construct an all-electric car, a move seen as the company’s attempt to compete against Tesla, which presently dominates the battery-powered sports car market.

Porsche to Manufacture Electric Sports Car in £500m investment 

The German carmaker confirmed that through a £500m investment project, it would create over 1,000 jobs in new assembly lines and facilities.

The new car project, termed Mission E, was unveiled earlier this year. The electric sports car is set to go on sale by 2020.

The car will feature 4 doors, 310 miles range, and will reach 62mph in 3.5 seconds. The Mission E is in direct competition with Tesla’s Model S, a powerful machine in its own right.

Volkswagen Group, which is presently caught up in an emissions scandal owns Porsche. VW has said that it is keen on investing in several hybrid and all-electric cars over the next five years.

According to Oliver Blume, chairperson of the company’s executive board, the building of Mission E was the start of ‘a new chapter in the history of the sports car.’

Market observers confirm that Mission was a direct challenge to Tesla, whose idea was formulated by Silicon Valley billionaire Elon Musk.  

Porsche’s Mission E unveiled

According to a statement by Porsche, the vehicle would feature a 800-volt unit for charging. This proprietary unit, specially designed for the car is two times as powerful as the standard quick-charge unit. The vehicle will also come with lithium-ion batteries on its floor to support up to 80% of the car’s mileage range after charging for just 15 minutes.

Users have the option to re-charge the car wirelessly through induction using a coil fixed in a garage floor. The Mission E model’s energy storage technology is borrowed from the Porsche 919 Hybrid sports car, which once won the Le Mans race.
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