1972 Porsche 914 on 2040-cars

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Porsche Mission E set for launch by 2020

Porsche will bring the Mission E electric sedan to production by 2020. The company's board just gave the thumbs up for further development of the vehicle on Dec. 4. "Even in a greatly changing motoring world, Porsche will maintain its front-row position with this fascinating sports car," Dr. Wolfgang Porsche, chairman of the supervisory board of Porsche AG, said in the model's announcement. The Mission E debuted at the 2015 Frankfurt Motor Show as a long-slung sedan in a mix of aluminum, steel, and carbon-fiber reinforced polymer. The concept featured two permanent magnet synchronous motors with over 590 horsepower, all-wheel drive with torque vectoring, and four-wheel steering. Porsche claimed that the model could reach 62 miles per hour in less than 3.5 seconds and offer a 500-kilometer (310.7-mile) range on the European testing cycle. Plus, the brand alleged the vehicle could lap the Nordschleife in less than eight minutes. The concept version also boasted an 800-volt charger to provide 80 percent of the range just 15 minutes after the driver plugged it in. We won't know for some time how much of this cutting-edge tech will actually arrive on the production version, but building the Mission E will coincide with 700-million euros ($765 million) in updates to the Porsche factory in Stuttgart-Zuffenhausen. In the coming years, the company will upgrade its engine factory to assemble electric motors. The automaker will also add a new paint shop, assembly plant, and enlarged body shop there. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Green light for Mission E The first 100% electrically powered Porsche is on its way. It will be launched at the end of the decade. The supervisory board of the Porsche AG today gave the green light for the Mission E project. Mission E, Concept Car, Press Conference IAA , Frankfurt, 2015, Porsche AG With the Mission E project, Porsche is continuing to back sustainable growth. In Stuttgart-Zuffenhausen alone more than 1,000 new jobs are being created. 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.

Porsche board members facing another ˆ1.8B lawsuit over VW takeover bid

Back in 2008, Porsche got the bright idea that it could take over Volkswagen in the midst of the worst economic slump since the Great Depression. Ignoring that this was a catastrophic move for the Stuttgart sports car manufacturer that that eventually resulted in it nearly going bankrupt and eventually being taken over by the same company it sought to control, the aftermath has left Porsche Chairman Wolfgang Porsche and board member Ferdinand Piëch in the crosshairs of seven hedge funds that lost out during the takeover and are now seeking €1.8 billion - $2.43 billion US - in damages from the two execs, according to the BBC.
See, investors bet on Volkswagen's share price going down, partially because Porsche said it wasn't going to attempt a takeover. But Porsche was attempting to take over VW, having bought up nearly 75-percent of VW's publicly traded shares. When word broke that Porsche owned nearly three-quarters of VW (which indicated an imminent takeover attempt), rather than go down like the hedge funds bet it would, VW's share price skyrocketed to over 1,000 euros per share, according to Reuters.
Naturally, when you bet that a company's share price is going to drop and it in turn (temporarily) becomes the world's most valuable company, you lose a lot of money, unless you're able to buy up shares before prices jump too much. This led to a squeeze on the stock, which the hedge funds accuse Porsche and Piëch (who are both members of the Porsche family and supervisory board) of organizing.

Charles Morgan drives a wicked air-cooled Porsche 911 GT2

Porsche has made a fantastic array of driver's cars over the years, but few can still drum up the kind of excitement as the first 911 GT2. It launched in 1993, based (appropriately enough) on the 993-generation model to serve as a homologation special, and remains a cult classic over two decades later. So to review one, the blokes at Carfection brought in Charles Morgan, former managing director of his family's sportscar manufacturer. The 993-gen GT2 was the first of its breed, packing a 3.6-liter twin-turbo flat-six cooled by air and good for 430 horsepower, all driven to the rear wheels through a six-speed manual. It had a full roll cage, plastic fenders riveted over the wider track, and... little else. It was raw, engaging, and extremely rare. Only 57 road-going examples were made, and these days they're trading hands for stupid money that only investors could afford – but could not afford to drive lest it crash into a write-off. Little wonder that Harry Metcalfe opted for a non-original example that had been brought up to GT2 spec in the aftermarket, and that's what Mr. Morgan is driving here as well. That may make it less authentic, but it still looks like a blast to drive along twisting country roads. See for yourself in the eight-minute clip above, brought to you by the same chaps who used to make the Xcar videos. Related Video: