Porsche has announced that it will invest over six billion euro (RM29 billion) by 2022 to spearhead the development of its electro-mobility division. The decision to focus on plug-in hybrids and pure electric vehicles was made during Porsche AG’s recent board meeting, with CEO Oliver Blume saying, “alongside development of our models with combustion engines, we are setting an important course for the future with this decision.”

The short-term plan will see the company invest half the sum in material assets, and over three billion euro (RM14.5 billion) in development costs. “We are doubling our expenditure on electro-mobility from around three billion euro to more than six billion euro”, said Blume.

Porsche has broken down the latter portion to allocate some 500 million euro (RM2.4 billion) for the development of Mission E variants and derivatives, around one billion euro (RM4.8 billion) for electrification and hybridisation of its existing product range, several hundred million for the expansion of sites, plus around 700 million euro (RM3.4 billion) in new technologies, charging infrastructure and smart mobility.

In Zuffenhausen, a new paint shop, dedicated assembly area and a conveyor bridge for transporting the painted bodies and drive units to the final assembly area are currently being constructed. The existing engine plant is also being expanded to manufacture electric drives, whereas a new body shop will be developed soon. Investment is also planned for the Weissach Development Centre, which will see the take in of more personnel – the Mission E project has created approximately 1,200 new job opportunities.

To recap, the Mission E is a pure electric sports car that boasts a system power of 600 hp. In concept form, Porsche says it requires less than 3.5 seconds to sprint from zero to 100 km/h, and will also be able to accelerate and brake repeatedly without any loss of performance. On a full charge, the Mission E offers a range of 500 kilometres (based on the NEDC). Charging time will also be very short – thanks to the 800-V system voltage, it takes just 15 minutes of charge to get a range of 400 kilometres.

Similarly, the second-generation Porsche Panamera range is now crowned with plug-in hybrid variants, adding credence to the automaker’s e-mobility venture. Both Panamera models – Panamera 4 E-Hybrid and Panamera Turbo S E-Hybrid – are fitted with Porsche’s third-generation plug-in hybrid drive, offering a pure electric range of 50 kilometres. The top Panamera packs 680 hp and 850 Nm from a turbocharged 4.0 litre V8 that’s married to a plug-in hybrid system.

GALLERY: Porsche Mission E spyshots

GALLERY: Porsche Panamera Turbo S E-Hybrid