As the world moves towards electric mobility, one wonders how sports car makers like Porsche will cope with the changes. Those who think that the German automaker will fade away into automotive oblivion might be in for a pleasant surprise. Porsche says that it is prepared for an electric future. And it is even putting its money where its mouth is.
At least that’s the impression we’re getting as Porsche announced that it will be investing some six billion euros in electrification, hybridization, and future mobility. The announcement was made during the recent Supervisory Board Meeting. The plan will focus on both hybrid and purely electric vehicles.
This is twice the amount that Porsche had originally planned to invest for the future upgrades. Around 500 million euros will be utilized to develop more variants of the vaunted Mission E pure electric sports car. Another million euros will be used for the hybridization of its existing lineup—such as the 911, Macan, Cayenne, and 718. The remaining funds will be for expansion of sites and development of new technologies.
While all this is set to take place around 2022, Porsche has already begun laying the groundwork for the future. A new paint shop, conveyor bridge and assembly area are already being built in Zuffenhausen. The engine plant is likewise being expanded to include the production of electric drive units.
Of course, charging those electric and plug-in hybrid vehicles are equally important. This is why Porsche has teamed up with other players like BMW, Daimler, and Ford to form Ionity, a consortium that aims to construct roughly 400 rapid-charging stations along Europe’s major highways by 2020. This will ensure that motorists using electric vehicles won’t be stranded on the wayside with a dead battery.
And while future offerings like the Porsche Mission E promise a potent 600hp from a purely electric motor that can blast the car from rest to 100kph in just 3.5 seconds, have a range of roughly 500kms on a single charge, and top up that 800V battery is a little over 15 minutes, this car won’t be around for a few more years. Those that want to try an electric Porsche can get the next best thing—the hybrid variants of the Panamera.
So will Porsche have a future with electrification? Only time and consumer response will tell.
