It would seem that Porsche is serious about developing electrified vehicles, so much so, that it's willing to sacrifice big jumps in profits to fund the investment. After significantly upgrading its Zuffenhausen plant, the company will build the Mission E electric vehicle there in 2020. Porsche spends 1 bln eur at core plant on electric model " Therefore it's clear that we can no longer carry out major leaps on results," said CEO Oliver Blume about the automaker's financial growth, according to Reuters. Blume said Porsche has "many new products in the pipeline”, and he wants as many of those as possible available with some level of electrification. The German carmaker plans to invest €1 billion ($A1.06 billion) into a battery plant at Gigafactory 1, which it opened last year.
It would seem that Porsche is serious about developing electrified vehicles, so much so, that it's willing to sacrifice big jumps in profits to fund the investment. After significantly upgrading its Zuffenhausen plant, the company will build the Mission E electric vehicle there in 2020. " Therefore it's clear that we can no longer carry out major leaps on results," said CEO Oliver Blume about the automaker's financial growth, according to Reuters. Blume said Porsche has "many new products in the pipeline”, and he wants as many of those as possible available with some level of electrification. The German carmaker plans to invest €1 billion ($A1.06 billion) into a battery plant at Gigafactory 1, which it opened last year.