Porsche has given the green light for its Mission E electric sports car project and says it will invest a billion euros and add 1,000 new jobs for it.

The Porsche supervisory board approved the project today. Dr. Oliver Blume, Chairman of the Executive Board, said that Porsche is “beginning a new chapter in the history of the sports car.” The vehicle is due to be launched at the end of the decade.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

In Stuttgart-Zuffenhausen alone more than 1,000 new jobs are being created, the company said. The company will be investing around 700 million euros in its main site there. 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 there will be more investment at other Porsche facilities including the Weissach development centre.

The Mission E concept car was shown at the Frankfurt Motor Show last September. 

See also: FRANKFURT: Porsche shows electric sports car concept