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Sameer Kapadia
Complex yet Simple but Unique
Complex yet Simple but Unique

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How 17 famous brands got their names

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Porsche to make electric sportscar in €700m project

Porsche has given the green light to build an all-electric car aimed at challenging Tesla’s dominance of the battery-powered sportscar market.

The German firm said it would create more than 1,000 jobs via a €700m (£500m) investment in new facilities and assembly line.

Porsche’s Mission E, revealed as a concept car earlier this year, is due to go on sale by the end of the decade.

The four-door car’s range will be 310 miles, and hit 62mph in 3.5 seconds.

This pitches the Mission E – a name unlikely to stay once the launch date nears – against Tesla’s powerful Model S.

Porsche is owned by Volkswagen Group, currently embroiled in ‘dieselgate’, which has said it would invest in a range of all-electric and hybrid vehicles across its brands over the next few years.


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