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Porsche to Invest $7 Billion in Electrification Programs
Porsche AG plans to invest more than €6 billion ($7.4 billion) in electromobility initiatives through 2022.
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Porsche AG plans to invest more than €6 billion ($7.4 billion) in electromobility initiatives through 2022.
The money will go toward developing and launching a range of hybrid and all-electric vehicles. Porsche says the funding also will support projects to build a charging infrastructure and other smart mobility initiatives.
Porsche plans to offer a mix of powertrains over the next decade, including optimized combustion engines, plug-in hybrids and pure electric vehicles. Last year the carmaker sold a record 246,400 vehicles, up 4% over 2016 levels.
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