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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.

Volkswagen profit jumps as it warns of a cooling auto market

FRANKFURT, Germany — Volkswagen says its profits jumped 44% in the third quarter thanks to a more profitable mix of vehicles in its lineup but warned that global car markets are slowing more than expected and lowered its forecast for annual sales. After-tax profit rose to $4.42 billion (3.98 billion euros) as revenues rose 11% to $68.27 billion (61.42 billion euros). The sales margin of 7.8% exceeded the goal of 6.5-7.5% as vehicles bringing higher profits took a larger share of sales. The Wolfsburg-based automaker pointed to the headwinds facing the industry by saying that it expects "vehicle markets will contract faster than previously anticipated in many regions of the world." It said sales would be "on a level" with last year's record of 10.8 million vehicles. Previously it had expected a slight increase. The company said its profits would be in the lower end of its forecast range. Global automakers are facing a slowdown in sales amid disputes over trade and from pressure in the European Union and China to develop and sell low-emission vehicles that require heavy investment in new technology. Ford and Renault have issued profit warnings in recent days, while Daimler, maker of Mercedes-Benz luxury cars, lost money in the second quarter and is expected to outline a cost-cutting strategy for investors on Nov. 14. Volkswagen is leading the push into electric vehicles in Europe by launching its ID.3 battery-powered compact car at prices it says will make zero local emission vehicles a mass phenomenon. The company was able to increase earnings in the quarter despite an 18% rise in spending on research and development.

Will the Mission E be the world's first must-have EV?

The Porsche Mission E concept was recently green-lit for production and has a tentative production date just before the end of the decade. With the recent onslaught of all-electric technology, the question remains: Which automaker will release the first must have all-electric EV? Tesla has clearly gained experience in testing the worldwide appetite for luxury, six-figure EVs, having sold its 100,000th vehicle in just three years and six months. But it remains to be seen if automakers can truly manufacture the ultimate green driving machine. Audi has shown its R8 e-tron but acknowledged that it will be produced in only limited quantities. On the other end of the spectrum, vehicles like the Chevy Bolt and BMW i8 are being produced for mass consumption, but will they satisfy the enthusiast who is looking for more than a commuter car? Tesla's Model S has certainly raised eyebrows and collected accolades with "ludicrous" level straight-line performance, but how well will the vehicle stand up to long-term ownership for enthusiasts? Porsche has dismissed any notions of autonomous driving in its vehicles, suggesting that it will try to stay close to its high-performance roots. This would seem to suggest that despite all the forecasted performance cred of the Mission E – 582 horsepower, 0–60 in 3.5 seconds, and a 310-mile range – potential buyers may not be getting the latest and greatest in gee-whiz-bang autonomous technology. And while Porsche has offered that future iterations of its 911 and 718 may in fact use hybrid-assisted drivetrains, the execution of a true, mass-produced, all-electric sports sedan remains to be seen. One thing is for certain, unlike start-ups like Tesla, the larger, more established manufacturers have larger budgets and more time to invest in R&D. Consumers have raised expectations from the more mature automakers in terms of reliability and the overall finish of their products. The arrival of the Mission E production car may introduce us to electric sports sedans that emphasize performance over efficiency while still eliminating its carbon footprint. Related Video: Porsche Electric porsche mission e porsche mission e concept open road