Porsche commits to manufacturing electric car to rival Tesla

Luxury sports car giant Porsche has confirmed its electric car concept, which can be charged in just 15 minutes, will go into full production

The Volkswagen-owned firm has committed a billion euros to its Mission E project, which was first shown off back in September at the Frankfurt Motor Show.

The initiative, which will create over 1,000 jobs, will look to rival pioneer Tesla in the e-car space.

The 600 horsepower car impressed during its initial showing in Frankfurt and is capable of reaching 0-100kmph (62mph) in 3.5 seconds, which faster than the iconic 911 (4.2 seconds).

The car has a range of 500km on a single charge, while it’ll also be be back to 80 per cent capacity after just 15 minutes on charge. Meanwhile, Tesla’s Model S sedan can go 528km on a single charge.

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Chairman Wolfgang Porsche said: “With Mission E, we are making a clear statement about the future of the brand. Even in a greatly changing motoring world, Porsche will maintain its front-row position with this fascinating sports car.”

The commitment comes as scandal-hit VW looks to pull itself out of the doldrums after it was revealed the firm had been cheating emissions tests around the world.