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Last Updated Thursday March 22 2018 03:42 AM IST

Mission-E: Porsche to launch electric cars

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Porsche 718 Boxster S New Porsche 718 Boxster S is on display during the press day at the 86th Geneva International Motor Show in Geneva, Switzerland. Photo: AP

Kolkata: Embarking on its Mission-E, luxury car maker Porsche, part of the Volkswagen group, will launch its first fully electric vehicle (EV) in India in the beginning of 2020, a company official said.

This will mark a step ahead for the uber-luxury German brand which has been operating in India since 2012 and has so far been selling only fully imported cars here as the company does have any manufacturing or assembly units outside its home country.

"We will launch a fully electric car in India in the beginning of 2020," director of Porsche India Pavan Shetty told PTI.

The India launch will follow the global launch in the last quarter of 2019, he said, adding that the prototype was showcased at the Frankfurt motor show in 2015.

"This is a part of the Mission-E of the company," Shetty said.

In 2016, the company sold 401 units in India, which went up to 434 cars in 2017 (Jan-Dec).

"We are expecting a stable growth in the country as it is difficult to judge the external conditions like exchange rate fluctuations," he said.

Shetty said post Goods and Services Tax (GST), effective tax rates had gone up for some of its models while for the others, it remained the same.

In the luxury segment, which also includes the super luxury brands, Porsche has a market share between 1.2 and 1.5 per cent, he said.

The company will launch a new SUV model -- Cayenne E3 -- in the third quarter of the current year, he said.

Porsche had introduced models like Cayenne, Macan, Panamera, 718 series, Cayman, Boxstar, and the flagship 911 in India.

The company has eight service centers and six dealer outlets in the country.

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