Porsche is about to splash billions of dollars extra on its EV efforts

Porsche is about to splash billions of dollars extra on its EV efforts

Porsche said this week it’s doubling its planned investment in all-electric and hybrid cars to $7.4 billion. The money will be pumped into related projects over the next four years, the Stuttgart, Germany-based company said on Monday. Porsche CEO Oliver Blume said that the decision to bet big on its electric vehicle (EV) efforts was “setting an important course for the future.” Offering more details on costs, the automaker said that around $620 million will be set aside for the development of variants of its much-anticipated, fully electric Mission E car, and more than $1 billion will go toward […]

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