Automotive icon Porsche is set to become the latest carmaker with battery production facilities in Germany. The Volkswagen subsidiary says it is teaming up with fuel cell specialist Customcells to build a factory with an annual capacity of 100 megawatt hours in the southwestern German town of Tübingen. Previously, Porsche has imported its batteries from South Korea.
Production in Germany will commence in 2024 according to company plans. Porsche is aiming to have at least 80 percent of its vehicles be electric by 2030. The company is well positioned to be a leading player in the luxury electric sports car market and has weathered corona pandemic disruptions well, notching a profit-to-sales ratio of over 16 percent in Q1 of this year.
Porsche is aiming for a charging time of 15 minutes in its next generation of batteries. Parent company VW is building six battery production facilities in Europe, and competitor Tesla is setting up what it says will be the world’s largest EV battery factory just outside Berlin.
The German version of online newspaper Business Insider also reports that Daimler intends to start producing its own batteries.