After many years of rumors and speculation, Porsche->ke1 has confirmed it is working on a full-electric production model. The new vehicle, due to be launched "at the end of the decade," will be based on the Mission E concept unveiled at the 2015 Frankfurt Motor Show.->ke235

In order to develop and build its Tesla Model S fighter, the Germans will invest around 700 million in the Stuttgart-Zuffenhausen plant and create more than 1,000 new jobs. Porsche plans to expand the existing engine factory for the production of electric motors, enlarge the body shop, and built a new paint shop and new assembly line. The Weissach development center will also get an upgrade before the project kicks off.

"We are resolutely taking on the challenge of electric mobility.->ke1030 Even with solely battery-powered sports cars, Porsche is remaining true to its philosophy and offering our customers the sportiest and technologically most sophisticated model in this market segment," said Dr. Oliver Blume, chairman of the Porsche Executive Board.

Details about the production model are scant, but it's design is likely to be inspired by the concept car. The drivetrain should also be similar to the Mission E's, which benefits from 600 horsepower, a range of more than 500 km, and hits 62 mph from a standing start in less than 3.5 seconds.

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Why it matters

Much like the Cayenne S Hybrid, launched in 2010, the upcoming electric car will mark the beginning of a new chapter for Porsche, which will become the first mainstream sports car manufacturer to offer a mass-produced EV. Granted, the Mission E will require a massive effort to become a production car, but knowing what the brand already achieved with the 918 Spyder and the 919 Hybrid in terms of performance and reliability, I'm confident that its first EV will benefit from the usual Porsche craftsmanship. More importantly, the Mission E will also be the first step toward a larger lineup of electric Porsches, which will include crossovers->ke288 and SUVs,->ke145 and possibly even a 911.->ke282

Porsche Mission E

Read our full review on the Porsche Mission E here.