Arab Today, arab today porsche plans €1bn electric car by end of decade
Last Updated : GMT 04:16:19
Arab Today, arab today
Arab Today, arab today

Porsche plans €1bn electric car by 'end of decade'

Arab Today, arab today

Arab Today, arab today Porsche plans €1bn electric car by 'end of decade'

A Porsche 911 Carrera 4S car at the company's annual press conference
Berlin - AFP

Porsche said Friday it was pumping in a billion euros to bring its first all electric car to market by "the end of the decade", as the German luxury sportscar giant joined the race for a slice of the green car market.

The car dubbed Mission E will boast an acceleration of 0 to 100 kilometres an hour in under 3.5 seconds and an autonomy of more than 500 kilometres (310 miles) on a single charge.

A specially developed charger can replenish the car's lithium-ion batteries with sufficient power for 80 percent of the range after just 15 minutes, the company said.

"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," said Wolfgang Porsche, supervisory board chairman, in a statement after the management approved the project.

Some 700 million euros ($760 million) of the investment would be spent on a new paint shop and an assembly plant in Stuttgart-Zuffenhausen, where 1,000 news jobs would also be created.

Another 300 million euros are development costs, said the group.

Germany's mighty auto industry is racing to catch up with US green car star Tesla, which currently has no rival at the high end of the electric car segment.

Electric cars are still very much a niche market, both in the United States and Europe, where they accounted for barely one percent of sales in the first six months of 2015.

But with double- and even triple-digit growth seen in some countries, German carmakers are looking at getting a slice of the market.

Besides Porsche, Audi is also building an electric urban 4x4 that could go into production in 2018 under the name Q6.

Despite a massive pollution cheating scandal engulfing Volkswagen, the parent company of both Porsche and Audi, the group has said it would not compromise on investments for its future.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today porsche plans €1bn electric car by end of decade Arab Today, arab today porsche plans €1bn electric car by end of decade

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today porsche plans €1bn electric car by end of decade Arab Today, arab today porsche plans €1bn electric car by end of decade

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday