Porsche Approves $1.09 Billion Mission E Project To Oblitereate The Tesla Model S Once And For All

Porsche will build a production version of the Mission E concept as the brand's first all-electric vehicle to take on the Tesla Model S.

Porsche has approved a 1 billion-euro ($1.09 billion) investment to produce the battery-powered sports car, the Volkswagen Group unit said today in a statement. It will be manufactured near the company's headquarters in Stuttgart and will create 1,000 jobs.

The model will enter showrooms at the end of the decade, Porsche said.

Porsche caused a stir at the Frankfurt auto show in September when it unveiled the four-seat Mission E concept, whose acceleration to 100 kph (62 mph) in less than 3.5 seconds beats the 911’s 4.2 seconds to reach that speed.

2015 Frankfurt Motor Show (IAA)

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skytop - 12/4/2015 4:53:22 PM

0 Boost

Porsche WILL shade Tesla smartly.

Every Tesla sold YOU help pay which federal incentives.

vdiv - 12/4/2015 5:36:35 PM

+3 Boost

Love your titles, 009! They crack me up for quite a while! :p

W208 - 12/5/2015 9:35:50 AM

+2 Boost

Exactly. Nothing about the statement says that Porsche is looking to take on Tesla. However, even Toyota uses Tesla drivetrains for the electric Rav4. Something tells me the development is extremely cost intensive. It'd make more sense for Porsche to hop onboard the Tesla train.

Jaybrn - 12/5/2015 9:22:33 PM

+1 Boost

Elon wins as his Tesla brand is bringing competition to design and produce desirable fully electric cars which was his ultimate dream anyway , for ever disrupting the car industry for good. Let's face it. The Leaf , Volt , etc while all ok for basic transportation are not going to change the industry but just provide an alternative choice to a basic ICE car. Tesla proved that fully electric cars are drool worthy and an interesting alternative to power house luxury brands who now are fighting to catch up. Porsche putting their stamp on this market will be exciting but they are behind already a product that will innovate faster than they can likely adjust , but It's good to hear they are going for it. Elon now has to get the price right for more people to access cars like this so hopefully they are are on target with Tesla model 3 .
We all win with better products to choose from over time which will bring better charging infrastructure as well.

TauronB2G - 12/4/2015 6:36:20 PM

+5 Boost

So let me get this right. Porsche is going to target a 3 year old vehicle in performance and knowing Porsche it will be twice the price in 4 years. Don't you think Tesla will have further innovated by then? Looks like we are going to have more rather stale 911 styling too. The best thing about the Mission E concept is the rear end that the Panamera should have had.
T

rockreid - 12/4/2015 6:52:43 PM

+4 Boost

Lol....good luck "obliterating" Tesla with a vehicle that will cost at least $150k base with no options and the weakest battery pack. Try over $200k optioned up to a decent level, and any S variant with Porsche's own "ludicrous Mode' to start over $200,000.

MDarringer - 12/4/2015 7:20:05 PM

-1 Boost

Then you factor in Porsche quality and Tesla not being proven...

MrEE - 12/5/2015 9:07:09 PM

+1 Boost

VW group trying to show commitment to environment in hopes to win leniency in tsunami of penalties coming their way. Next VW will announce a Prius matching effort.

focal - 12/7/2015 11:33:08 AM

+1 Boost

Tesla interior quality is not the best. If Porsche can deliver a premium car, the market will accept it. Tesla will capture a bulk of sales in the Model 3 level car. They are after the mass market long term.