Porsche has announced that its first 100% electrically powered car is on its way and will be on the road by 2020. Under the title the mission E project, Porsche is backing sustainable growth and will create 1,000 new jobs in the process.

The Mission E concept car celebrated its premiere at the Frankfurt International Motor Show and the Porsche board have now approved production development as part of a €700 million investment. 

The concept is a four door car with sustainability and Porsche performance. It will offer a 500 kilometre range and will be charged via an 800-volt charger unit specially developed for the car. There will also be the option of induction charging wirelessly when parked.

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."