Home » News » Porsche » Porsche investing six billion euros in e-mobility
Made famous by its gasoline boxer engine and driving dynamics, Porsche is now following the trend and invests more and more into electrification.

By 2022, the sports car manufacturer will invest more than six billion euros in e-mobility, focusing on both plug-in hybrids and purely electric vehicles. The decision was made by the Porsche AG Supervisory Board at its most recent meeting.

From the additional sum of three billion euros, some 500 million euros will be used for the development of Mission E variants and derivatives, around one billion euros for electrification and hybridization of the existing product range, several hundred million for the expansion of sites, plus around 700 million euros in new technologies, charging infrastructure and smart mobility.

At Porsche AG's headquarters site in Stuttgart, a new paint shop, a 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 drive trains and the body shop will also be developed. Investment is also planned for the Weissach Development Center. The Mission E project has created approximately 1,200 new jobs.

Porsche also is becoming a member of Ionity, a joint venture with Audi, the BMW Group, Daimler AG, and Ford Motor Company. The goal of this venture is to construct and operate 400 powerful rapid charging stations along the major European traffic routes by 2020. Construction began back in 2017. To complement the work of Ionity, the European Porsche dealer network is becoming part of a rapid charging infrastructure.

In the United States, Porsche is also working with all 189 dealer partners to install fast-charging infrastructure for customers. Six rapid chargers have just been installed at the Porsche Experience Center in Atlanta, with the Los Angeles experience center to follow. Porsche is also working with other organizations on a network of DC fast-chargers for U.S. cities and highways.



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