Porsche has unveiled its plans to build an all-electric car aimed at challenging Tesla’s dominance of the battery-powered sports car market.
The German automaker said it would create more than 1,000 jobs via a €700 million investment in new facilities and assembly line.
Porsche’s Mission E, revealed as a concept car earlier this year, is due to go on sale by 2019.
The four-door car’s range will be 310 miles, and hit 62mph in 3.5 seconds.
Porsche is owned by Volkswagen Group, currently embroiled in Dieselgate scandal, which has said it would invest in a range of all-electric and hybrid vehicles across its brands over the next few years.
Dr. Oliver Blume, chairman of Porsche’s executive board said putting Mission E into full development was the “beginning of a new chapter in the history of the sports car”.
Porsche said the car would be charged via an 800-volt unit specially developed for the vehicle, which is twice as powerful as today’s quick-charge system.
The lithium-ion batteries integrated within the vehicle floor will have enough power for 80% of its mileage range after 15 minutes charging, Porsche said in a statement. The vehicle can optionally be “refueled” wirelessly by induction via a coil set into a garage floor.
The four-seat car features energy storage technology derived from the Le Mans-winning Porsche 919 Hybrid race car.
The €700 Mission E investment was part of a €1 billion spending plan on new facilities announced by Porsche on December 4.