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Porsche Plans Fully Electric Vehicle by 2020

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Porsche Fully Electric Vehicle Concept Artwork (Mission E)Porsche is joining numerous other car manufacturers in the effort to bring environmentally-friendly vehicles to the market.

During its yearly press conference, it was announced that the first Porsche fully electric car would be produced. The manufacturer has previously built hybrid vehicles, such as the Cayenne S E-Hybrid, but this completely electric model is a first for the German carmaker. The company will invest one billion euros to produce the brand’s first vehicle by the end of the decade.

Of the billion euro investment, 700 million is expected to be put towards new facilities in Stuttgart-Zuffenhausen, where Porsche is headquartered, to produce the vehicle. The new paint shop and assembly plant would provide 1,000 new jobs. The remaining 300 million euros will be put towards development.

Formerly a concept vehicle, it was approved by the supervisory board today. Referred to as Mission E, the vehicle is expected to have an acceleration of zero to 100 kilometers/hour in less than 3.5 seconds. The lithium-ion battery will allow drivers to go more than 500 kilometers with a single charge, and will be able to recharge to 80% of the total capacity in 15 minutes. That recharge rate, however, is made possible with the charging unit specifically designed for the vehicle.

Despite growing research and development to put more green technology in vehicles, the electric car is still a niche product in a massive consumer market. Tesla, an American manufacturer, has been leading the charge in bringing electric vehicles to the consumer, especially in the high-end segment. It has enjoyed virtually no direct competition – until now. Though Porsche’s completely electric car won’t be ready for a few years yet, both enthusiasts and the environmentally-conscious may now be willing to wait.

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