The German automaker Porsche is a well known name for sports cars and sporty SUVs. Now the company is focusing more on performance-oriented electric cars for which they have announced to double the investment in plug-in hybrids and pure EVs. This will be a total investment of 6 billion euros ($7.43 billion) by 2022.
The company has announced to use most of this investment for Mission E development which is Porsche’s first full EV and is based on the 2015 concept car. It will be still early to say that it can be true Tesla Model S rival, but all the efforts by the company shows its dedication towards Mission E success. This car will go from 0-62 mph in less than 3.5 seconds and a range of 500 kilometers (310 miles) based on European measurements.
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According to the company statement, Mission E would be able to charge in as little as 15 minutes. As a part of this investment, the company is also upgrading its main assembly plant in Zuffenhausen, Germany for the production of EVs. At the same time, Porsche is also investing heavily on creating a charging network. With this the company is also planning to make all its dealers a part of the charging network.