What comes to mind when you hear the name Porsche? Revving engines and the smell of petrol? The luxury carmaker has just opened a new factory producing the Taycan, its first fully-electric sports car.
The Swedish startup has announced the German automaker will invest heavily in two new battery plants. The factories, located in Sweden and Germany, are intended to compete with Tesla and Asian suppliers.
Despite China's car sales falling for nine months, German automakers are betting on new electric models to boost market share. Further headwinds could emerge when Beijing's generous electric car subsidies end next year.
A Tesla Model 3 has a worse life-cycle carbon footprint than a similar-sized Mercedes diesel car, the renowned German think tank has found. It warns that electric vehicles are "no panacea" against climate change.
Chief Executive Oliver Blume has said the sports carmaker will focus on petrol/gasoline, hybrid and all-electric vehicles. Porsche and its parent Volkswagen have seen their image take a beating in the wake of Dieselgate.
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