Porsche doubles electrification spending

Porsche is doubling down on its shift to greener models. The company has announced it will invest more than $7.45 billion USD on its electrification strategy. A significant portion of the investment will go toward the all-electric Porsche Mission E, expected to have a range of 311 miles in Europe.

Porsche’s investment push was strongly influenced by the its hybrid sales growth in Europe. Auto Guide reports that last year “approximately 60 percent of all [Porsche] vehicles delivered in Europe were hybrid variants.” Read more.

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