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Porsche Confirms Mission E Electric Car Headed to Production

Commits 700 million euros to project.

Following a stunning debut at the 2015 Frankfurt auto show earlier this year, Porsche now pledges nearly a billion-euro investment toward the production of the Porsche Mission E electric super-sedan. Porsche says the car will launch "at the end of the decade."

Looking forward toward full-blown production, Porsche moves to add nearly 1,000 jobs and an infrastructure investment topping 700 million euros to support the car's launch, much of which will be spent on adding a new paint shop and assembly plant in the Stuttgart-Zuffenhausen, along with enlarging the engine factory and body shop. Additional investment is being made toward other sites as well, including the company's Weissach development center.

The Mission E concept is Porsche's vision of the future, a step toward increasing the legendary automaker's stake in the electric-car segment. With a format clearly gunning for the Tesla Model S, the lithe Mission E concept is an all-wheel-drive, all-electric sedan that puts down 600 hp from dual electric motors. Instant torque from the motors results in a 0-60 mph time of 3.5 seconds, and advanced battery technology means the Mission E concept can travel 310 miles before needing a recharge.

When the Mission E does need some more juice, integrated capacitive charging technology installed in the underbelly of the super sedan allow for wireless charging while parked in specially-outfitted garages. In fact, the Mission E can reach an 80 percent of a full-charge in just 15 minutes.

Stay tuned for more information on the production status of Porsche's new electric super sedan.