Press release
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february 05, 2018 - Porsche
Porsche plans to invest more than six billion euro in electromobility by 2022
Doubling investment in the future: #porsche has been putting together an unprecedented future development plan. By 2022, the sports car manufacturer will invest more than six billion euro in electromobility, 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. “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 plans have been bolstered significantly to include around three billion euro of investment in material assets, and slightly more than three billion euro in development costs.
From the additional sum of three billion euro, some 500 million euro will be used for the development of Mission E variants and derivatives, around one billion euro for electrification and hybridisation of the existing product range, several hundred million for the expansion of sites, plus around 700 million euro in new technologies, charging infrastructure and smart mobility.
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