Porsche going big on all-electric cars

While on one hand we have news about how VW plans to divest brands like Ducati, Lamborghini and Bentley as an aftermath of its emission scandal, here's news coming in from a company under the VW group about a substantial investment towards its full-electric sports car project.

Porsche has planned a billion euro (~Rs. 7,241 crore) total investment to turn the Mission E project into reality. The company will be investing nearly 700 million euros in Stuttgart-Zuffenhausen itself. This move will result in the generation of more that 1,000 new jobs. Its existing body shop will be enlarged and a new paint shop and a new assembly plant will be built. In addition, the company will also invest in the Weissach development center.

The Mission E concept car premiered at the Frankfurt International Motor Show in September 2015. It is an all-electric sports car producing 440 kW (590 BHP) of power and a 0-100 kph time of 3.5 seconds. It even boasts of a max range of over 500 km on a single charge. The 800-volt charger unit is capable to recharge the cars lithium-ion batteries up to 80% in merely 15 minutes.