Porsche Mission E to enter production

The all-electric Porsche Mission E concept, which was first revealed at the Frankfurt motor show in September, has been confirmed for production by the company's supervisory board. The car will rival the Tesla Model S when launched around 2020.

Chairman of the executive board, Dr Oliver Blume said the company is "beginning a new chapter in the history of the sportscar" with the launch of the Mission E.

The Mission E – a name unlikely to follow the car to production – is intended to "combine outstanding driving performance with trendsetting day-to-day practicality." The four-door, four-seat model features energy storage know-how garnered from the Le Mans-winning 919 Hybrid race car, along with lightweight construction and battery technology from the 918 Spyder.

The concept car is powered by two electric motors – one mounted up front acting on the front axle and one at the rear providing drive to the rear wheels. Combined power output is rated at 592bhp. Porsche says the Mission E is capable of reaching 99.77kph in under 3.5 seconds, making it faster than a 911, with a range of more than 490km.

The Mission E concept is also said to provide styling clues for the next Panamera. The production car is expected to be relatively unaltered from the concept.

Weighing 2,000kg, the concept features a liquid-cooled battery mounted low in the floor. According to Porsche, this allows it to provide the Mission E with a low centre of gravity similar to that of the 918 Spyder. The concept also sits on an all-new platform specifically built around its electric drive system which features a floorpan made from aluminium, high-strength steel and carbon-fibre reinforced plastic. The adoption of a bespoke platform means that hybrid or combustion-engined variants of the Mission E are effectively ruled out.

The car also features a revolutionary 800-volt charger unit, which is capable of re-charging the Mission E's lithium-ion batteries to 80 per cent of its capacity – enough to provide 400.72km of range in just 15 minutes. Wireless induction can also be used, where coils are embedded into the floor.

As a result of the car getting the go-ahead, more than 1,000 new jobs will be created at the carmaker's Stuttgart HQ, according to Porsche. Around €700 million (approximately Rs 5,000 crore) will also be invested in its main factory, with a new paint shop and assembly plant being built there. The factory's existing engine shop is being expanded to produce electric motors alongside combustion engines, while the body shop will be enlarged. Porsche's Weissach development centre will also receive new funding.