Porsche announced it will double its investment in electric vehicles by 2022, The Verge reported.
The company plans to increase its EV investment to $7.43 million, to develop multiple electric car models and charging infrastructure.
“Alongside development of our models with combustion engines, we are setting an important course for the future with this decision,” said Porsche.
Porsche’s upcoming Mission E electric vehicle is set to launch in 2019, and will be the company’s first fully-electric car.
The car will reportedly deliver impressive acceleration and range, going from 0-100km/h in 3.5 seconds and travelling 500km on a single charge.