Porsche to invest $6.7 billion to develop electric vehicles
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Porsche announced Wednesday it plans on investing $6.7 billion, or 6 billion euros, through 2022 to develop electric vehicles as it unveiled its first zero-emissions sports car.

Porsche presented its new Taycan electric sports car, the first model in a new series, which has an 800 volt system and a range of about 280 miles, or 450 kilometers. It is the first electric vehicle from a German carmaker with a range capable of rivaling that of Tesla’s cars.

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“We promised a true Porsche for the age of electromobility – a fascinating sports car that not only excites in terms of its technology and driving dynamics, but also sparks a passion in people all over the world, just like its legendary predecessors have done. Now we are delivering on this promise,” said Michael Steiner, a member of Porsche’s executive board. 

The car also offers a leather-free interior, instead opting for “interiors made from innovative recycled materials” that “underscore the sustainable concept of the electric sports car.”

The move comes as environmental activists call for a boycott of the German auto industry.

A climate activist group destroyed 40 luxury vehicles in August and called for a boycott of September’s Frankfurt Motor Show, claiming it celebrates an “outmoded climate and environment destroying transportation system,” according to Reuters.