Porsche is pumping loads more cash in electric cars

Porsche may be known for sports cars  and sporty SUVs, lately but it wants to be known for performance-oriented electric cars in the near future.Image result for porsche electricThe German automaker announced Monday it would double its investment in plug-in hybrids and pure EVs by 2022 to more than 6 billion euros ($7.43 billion). Along with the already pledged Mission E pure electric due next year, the company promises to develop other vehicles on that platform. Porsche will further invest in what it’s calling “new technologies, charging infrastructure and smart mobility. Porsche got into the smart mobility game last year with the Porsche Passport pilot program.
Image result for porsche electricFollowing this move by the organization Oliver Blume, chairman of the Porsche AG executive board made a statement saying “Alongside development of our models with combustion engines, we are setting an important course for the future with this decision.”
Related imageA big chunk of the investment is going into the Mission E development, based on the 2015 concept car, which will be Porsche’s first full EV. The company has already said it would go from 0-62 mph in less than 3.5 seconds and a range of 500 kilometers (310 miles) based on European measurements. In short, the Mission E is Porsche’s mission to build a true Tesla Model S rival. Therefore, its investment is also covering upgrades to its main assembly plant in Zuffenhausen, Germany for the production of EVs.