The decision was made by the Porsche AG Supervisory Board at its most recent meeting.
“We are doubling our expenditure on electromobility from around three billion euro to more than six billion euro”, explains Oliver Blume, Chairman of the Executive Board of Porsche AG. “Alongside development of our models with combustion engines, we are setting an important course for the future with this decision.”
The plans have been bolstered significantly to include around three billion euro of investment in material assets, and slightly more than three billion euro in development costs.
From these additional three billion euro, some 500 million euro will be used for the development of Mission E variants and derivatives, around one billion euro for electrification and hybridisation of the existing product range, several hundred million for the expansion of sites, plus around 700 million euro in new technologies, charging infrastructure and smart mobility.