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Weekly Recap: Porsche embarks on Mission E

Porsche's board of directors approved the company's first all-electric car Friday, signing off on production of the eye-catching Mission E concept that debuted in September at the Frankfurt Motor Show. It's set for launch by the end of the decade. The Frankfurt concept uses lithium-ion batteries to power two synchronous motors that create more than 600 horsepower and provide a range of 311 miles on the European cycle. It's capable of hitting 62 miles per hour in 3.5 seconds and can run the Nurburgring Nordschleife in less than eight minutes. In a statement, Porsche board chairman Oliver Blume called the Mission E the "beginning a new chapter in the history of the sports car." Porsche is backing that up with a roughly $1.1-billion investment that will create more than 1,000 jobs at its facilities in Zuffenhausen, Germany. The company will spend more than $760 million at its main site there to build a paint shop and a new assembly plant. It will also expand an engine factory to make electric motors. Porsche's renewed electric ambitions come as it grapples with fallout from parent company Volkswagen's diesel-emissions scandal. Porsche uses a VW diesel engine in the Cayenne SUV, which it stopped selling in November until a fix is found. Still, Mission E's scheduled landing could be as much as four years away – when Porsche and VW hope their diesel woes will be long over. The electric strategy is clearly a long play to provide its enthusiast owners with an efficient form of sport and luxury as fuel economy and emissions regulations tighten around the world. And if you still can't wrap your head around electric Porsches, the company also just announced plans to make the 911 Turbo and Turbo S even more powerful. Electric propulsion is part of Porsche's future, but for now at least, it isn't everything. OTHER NEWS VW sales crash 25 percent in November Finally, the other shoe dropped. Volkswagen sales plummeted 25 percent in November as fallout from the company's diesel-emissions scandal finally showed up on the sales charts. VW had managed to tread water with flat sales through September (the scandal broke more than halfway through the month) and October. The company stopped selling its 2.0-liter I4 and 3.0-liter V6 diesels as it works to make the engines complaint with emissions rules. VW admitted to rigging its diesel-powered cars so they could pass emissions tests in the United States and around the world.

Preserving automotive history costs big bucks

$1.8 million is spent each year to maintain GM's fleet of 600 production and concept cars.
When at least two of the Detroit Three were on the verge of death a few years back, one of the tough questions that was asked of Ford, General Motors and Chrysler execs - outside of why execs were still taking private planes to meetings - was why each company maintained huge archives of old production and concept vehicles. GM, for example, had an 1,100-vehicle collection when talk of a federal bailout began.

Porsche names new chief for North America

Porsche has named a new president and CEO for its North American division. The role will now fall to Klaus Zellmer, named by the executive board back in Stuttgart, and slated to take effect at the beginning of November. Zellmer's appointment is just the latest round in an ongoing game of musical chairs (or Reise nach Jerusalem as the Germans call it for some reason) underway in the Volkswagen Group at large and in the Porsche division specifically. In the wake of the diesel emissions scandal, Porsche CEO Matthias Muller was promoted to replace Martin Winterkorn as head of the entire group. Porsche's own production chief Oliver Blume was named as Muller's replacement. Sales and marketing chief Bernhard Maier moved to the Czech Republic to run Skoda, and Detlev von Platen – who served until now as the president and CEO of Porsche Cars North America – was recalled to Stuttgart to take Maier's place. Now Zellmer has been named as von Platen's successor in Atlanta. Schooled in Germany, the UK, and the US, Zellmer has until now been responsible for overseas and emerging markets for the company. In that capacity he's overseen regional operations in Asia-Pacific, South America, the Middle East, and Africa, as well as Australia, Japan, and Korea. He previously ran operations in Porsche's home market, where he nearly double the company's sales in less than five years. Of course his appointment means that Porsche will in turn need to name a new executive to oversee those oversees markets, but this is about as far as we'll be chasing the ripple effect. Related Video: Klaus Zellmer to lead Porsche Cars North America Detlev von Platen to join Porsche AG Executive Board as new member responsible for global Sales and Marketing ATLANTA, Oct. 13, 2015 /PRNewswire/ -- Porsche AG's Executive Board appointed Klaus Zellmer as new President and Chief Executive Officer of Porsche Cars North America, Inc. (PCNA), effective November 1, 2015. PCNA's current President and Chief Executive Officer, Detlev von Platen, will relocate from Atlanta to Porsche headquarters in Stuttgart, Germany to assume his new role as Executive Board member responsible for global Sales and Marketing, also effective November 1, 2015. He succeeds Bernhard Maier, who was appointed Chairman of the Board of Management for SKODA in the Czech Republic. Mr. von Platen has led PCNA since 2008. Under his leadership North America remained the most important market for Porsche worldwide.