It says more than 1,400 new positions will be created to design and build the battery-powered vehicle. Previously it had been talking about 1,000.

Based on the Mission E concept car shown at last September’s Frankfurt motor show, it is due to be on the road by the end of the decade.

The new jobs will mostly be at the Volkwagen-owned brand’s factory in Stuttgart’s Zuffenhausen district where it will set up a new assembly line and paint shop.

Porsche plans to spend about one billion euros to introduce its first electric car and says it needs to make around 10,000 per year for it to be profitable.(Euronews)