By 2022, Porsche plans to invest more than EUR 6 billion in e-mobility, focusing on both plug-in hybrids and all-electric vehicles.
The decision was made by the Porsche AG supervisory board at its most recent meeting. The sports car manufacturer is planning roughly EUR 3 billion in material assets and slightly more than EUR 3 billion in development costs.
“We are doubling our expenditure on electromobility from around EUR 3 billion to more than EUR 6 billion,” states 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.”
From the new additional sum of EUR 3 billion, some EUR 500 million will be used for the development of Mission E variants and derivatives; around EUR 1 billion for electrification and hybridization of the existing product range; several hundred million for the expansion of sites; and around EUR 700 million in new technologies, charging infrastructure and smart mobility.
At Porsche AG’s headquarters site in Stuttgart, Germany, a new paint shop, a dedicated assembly area, and a conveyor bridge for transporting painted bodies and drive units to the final assembly area are currently being constructed. The existing engine plant is being expanded to manufacture electric drivetrains, and a body shop will also be developed. Investment is also planned for the Weissach Development Center.
Porsche also is becoming a member of Ionity, a joint venture with Audi, the BMW Group, Daimler AG and Ford Motor Co. The goal of the venture is to construct and operate 400 rapid-charging stations along major European traffic routes by 2020. Construction began in 2017.
In the U.S., 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.