Porsche Gives the Green Light to Mission E, Launch By 2020

Porsche has given the Mission E concept the go-ahead for production.

"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 Dr. Wolfgang Porsche, Chairman of the Supervisory Board of Porsche AG.

First shown at the Frankfurt Motor Show in September, the concept featured an 800 Volt electrical system with two electric motors producing around 600 horsepower. The run to 60 MPH takes around 3.5 seconds and have a total range of around 310 Miles. A unique feature of the concept was the 800 Volt charging system that provided 80 percent of total range within 15 minutes.

To get ready for Mission E production, Porsche will invest 700 Million Euros (about $765 million) into their Stuttgart-Zuffenhausen plant. The investment will bring in a new paint shop, assembly plant, and upgrades to its engine factory.

Porsche says they plan on launching the production Mission E by the end of the decade.

Source: Porsche

Press Release is on Page 2

Porsche Mission E Receives a Green Light

• Porsche to invest around one billion euros - More than 1,000 new jobs
  

Atlanta, Georgia. The first 100 percent electrically powered Porsche is on its way. The supervisory board of Dr. Ing. h.c. F. Porsche AG today gave the green light for the Mission E project. In the words of Dr. Oliver Blume, Chairman of the Executive Board, Porsche is thus "beginning a new chapter in the history of the sports car." The vehicle is due to be launched at the end of the decade.

With the Mission E project, Porsche is continuing to back sustainable growth. In Stuttgart-Zuffenhausen alone more than 1,000 new jobs are being created. The company will be investing around 700 million euros in its main site. Over the next few years, a new paint shop and a new assembly plant will be built. The existing engine factory is also being expanded for the production of electric motors. In addition, the existing body shop is being enlarged. On top of that come other areas in which the company will be investing in this context, such as in the Weissach development center.

The Mission E concept car celebrated its premiere at the Frankfurt International Motor Show (IAA) in September 2015. Visitors were gripped above all by its highly emotional design. Living up to the buzzword of 'E-Performance', the technological trailblazer combines outstanding driving performance with trendsetting day-to-day practicality. In concept form, the four-door car with four individual seats has a system power output of over 600 hp (440 kW). The vehicle thus 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. When charged using an 800-volt charger unit which is planned to be specially developed for the car, which is twice as powerful as today's quick-charge systems, the lithium-ion batteries integrated within the vehicle floor could be recharged to the 80 percent level after just 15 minutes. Plans are under way for 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: "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."

Chairman of the Porsche Executive Board, Dr. Oliver Blume: "We are resolutely taking on the challenge of electric mobility. Even with solely battery-powered sports cars, Porsche is remaining true to its philosophy and offering our customers the sportiest and technologically most sophisticated model in this market segment." Blume added that the Mission E project underlines the importance of Stuttgart-Zuffenhausen as a production site, of Baden-Württemberg as a center of technology and of the whole German automotive industry.

Uwe Hück, Chairman of the Central Works Council and Deputy Chairman of the Porsche AG Supervisory Board: "A day to celebrate! Yes, we did it! We brought Mission E to Zuffenhausen and Weissach where the future has tradition. The workers' side made the employer's side an offer that they couldn't refuse. This heralds the dawn of a new age in Zuffenhausen and Weissach. Digitalization will be growing up with us. And Factory 4.0 will be a major challenge for the workforce, trade union and employer. We will be taking new approaches but not giving up on the social aspects. With today's decision, Porsche is driving flat out with no speed restrictions into the automotive and industrial future."