The company says it is investing more than $760 million to upgrade its facilities to accommodate the Mission E project.
Porsche is to launch a high-performance electric car based on the Mission E concept car, by 2019.
When it reaches market, the Mission E is slated to challenge Tesla’s award-winning Model S for top honors in the electric car arena.
“With Mission E, we are making a clear statement about the future of the brand,” Porsche supervisory board chairman Dr. Wolfgang Porsche said in a statement.
“Even in a greatly changing motoring world, Porsche will maintain its front-row position with this fascinating sports car.”
The Mission E made it world debut at the 2015 Frankfurt Motor Show in September, where it became one of the most talked about cars of the show.
The production form of the car is expected to be a four-door, four-seat sedan featuring an all-electric drivetrain producing more than 600 horsepower.
Porsche predicts the Mission E will be able to sprint from 0-62 mph in less than 3.5 seconds with a range of more than 310 miles.
The Future Is For All Powerful Electric Sports Cars
The Mission E sports some iconic Porsche styling in a four-seater that touts a range of over 500 km (310 miles). What’s more, the vehicle’s floor-mounted batteries can reach an 80 percent charge in 15 minutes. Porsche says that’s twice as fast as current systems permit, driven by a 800-volt charger designed specifically for the car’s 90 kWh battery pack. The Mission E can also be recharged “wirelessly” with an induction coil installed in the owner’s garage floor.
In terms of power, the Mission E can hit 0 to 62 MPH in under 3.5 seconds and 124 MPH in less than 12 seconds. For comparison, Tesla’s Model S P85D, which will be Porsche’s chief competition, has a 253-mile range and can get to 60 MPH is 2.8 seconds inLudicrous mode. Of course, Tesla has a sizable head start with its Model S already on the road and the German automaker’s launch still a few years out. Porsche says the Mission E is a commitment to the future, and the future seems to include powerful all-electric sports cars.