It's official! Porsche will move ahead with Mission E. The project, which is 100 percent electrically powered car, will see an injection of close to Dhs3.9 billion (€1 billion) in the project. Speaking about the car Dr. Wolfgang Porsche, Chairman of the Supervisory Board of Porsche AG 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."

Porsche gets green light for billion dirham electric project

The Mission E concept car, which launched at the Frankfurt Motor Show in September, showcases the car's unique driving performances with its everyday practicality. Able to reach 0-100km in a mere 3.5 seconds, the car can rely on electric juice for more than 500km. Unlike current recharging standards, the specially developed charging stations for Mission E cars will be able to recharge the battery for 80 percent range in just 15 minutes.

Porsche gets green light for billion dirham electric project

The Porsche Mission E is set to be launched by 2020.