Porsche on Friday announced that it received approval to start the production of the Mission E electric sedan.
The company plans to invest around €700 million to build an all-electric performance car, which will look like an advanced version of Porsche Panamera. The car is due to be launched at the end of the decade.
The Mission E concept car was revealed at the Frankfurt Motor Show. Now, the company received green light from the board for the factory production.
The carmaker will spend money on a new paint shop and a new assembly plant. It will expand the existing engine factory for the production of electric motors. Moreover, the existing body shop is being enlarged.
The four-door car with four individual seats is expected to achieve both acceleration of 0 to 100 km/h in under 3.5 seconds with a planned maximum range of more than 500 kilometers.
The vehicle will be charged using a specially developed 800-volt charger unit. The lithium-ion batteries integrated within the vehicle floor could be recharged to the 80 percent level after just 15 minutes, according to the company.
Porsche Executive Board Chairman Dr. Oliver Blume said that with Mission E electric car, the company is “beginning a new chapter in the history of the sports car.”
Further, Porsche said that it is planning to develop optional equipment that would allow the vehicle to be ‘refueled’ wirelessly by induction via a coil which the owner could have installed beneath the garage floor.
Dr. Wolfgang Porsche, chairman of the supervisory board of Porsche AG, stated that “with Mission E, we are making a clear statement about the future of the brand. Even in a greatly changing motoring world, Porsche will maintain its front-row position with this fascinating sports car.”