Porsche Invests Half a Billion Euros in Boxster/Cayman Factory for EVs

There's no denying that the current-generation and Cayman are excellent sports cars , but Porsche's never a company to rest on its laurels. According to a report Friday by the German branch of Automotive News, Porsche is already pouring money into the facility that builds them to transition over to electric vehicle production ahead of the planned switch to full battery electric power for both models.

How much money? Try half a billion euros (approximately $565,380,000), and if that doesn't say "commitment," then I don't know what does. The brand had already invested pretty in EV construction when it built the factory for the , but this goes a step further and represents real progress in the brand's stated goal of having around a third of its sales come from EVs by 2025 and two-thirds by the end of 2030.

Production of the electric 718 replacements – which are based on the fantastic Mission R concept –  is slated to begin in 2023, which means that we might be looking forward to a debut of possibly both the and the Cayman sometime this year. We also expect the next-generation – also electric – to debut in 2023, so if you're a fan of EVs that totally rule to drive, then next year is shaping up to be pretty great.

If you're looking forward to an electric 911, then you better settle in for a long wait because Porsche isn't going to be messing with its most iconic model, at least not until everything else in the lineup gets electrified first. This means that the company will be developing its production lines to build internal combustion models alongside electric models, so hopefully the eventual full transition to electric power will prove graceful and unproblematic.

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