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Porsche will sacrifice profit growth to fund EV development

Porsche is so serious about developing electrified vehicles that it's willing to sacrifice big jumps in profits to fund the investment. After a massive upgrade to the Zuffenhausen plant, the company will build the Mission E EV (above) there in 2020. "Therefore it's clear that we can no longer carry out major leaps on results," the CEO Oliver Blume said about the automaker's financial growth, according to Reuters. Porsche will invest 1.1 billion euros ($1.2 billion) through 2020 to make additional electrified vehicles possible. Around 700 million euros ($765 million) will go into the Zuffenhausen factory to build a new paint shop, assembly plant, and upgrade the engine factory to produce electric motors for hybrids and EVs. The expansion will also bring all Cayman and Boxster assembly under one roof. Outside of Zuffenhausen, the money will improve the research and development center in Weissach and update the sales and marketing department in Ludwigsburg. Blume said Porsche has "many new products in the pipeline," according to Reuters, and he wants as many of those as possible available with some level of electrification. In addition to the Mission E, there are rumors the company might build a 911 plug-in hybrid as soon as 2018. While Blume doesn't forecast big jumps in profits, Porsche should still remain financially successful in the coming years. The automaker doesn't report its 2015 earnings until March 11, but Reuters reports the company's global deliveries topped 200,000 vehicles for the first time ever last year, which could push its operating profit well above 2014's 2.72 billion euros ($3 billion at current rates). Related Video:

Porsche 911: Big in Taiwan

Porsche is continuing celebrations for the fiftieth anniversary of its iconic 911. In its latest video, it's gone to Taiwan, to interview some of the folks that have grown passionate about the rear-engined sportscar over the years.
By and large, the views expressed in this video could have come from anywhere in the world. The 911 is a great car and that doesn't change from country to country. These enthusiasts have the same passion that fans in England, the United States or Germany have for the Carrera. Take a look below at the full video, to see what the 911 enthusiasts of Taiwan love about their 911s.

Porsche recalling Macan S and Turbo for fuel leak

Porsche is recalling 58,881 examples of the Macan S and Turbo worldwide because of a possible leak in the low-pressure fuel line in the engine compartment. Of these, there are 21,835 affected in the US and 3,490 in Canada. According to the German automaker, this campaign is "a purely precautionary measure" because there're no reports of any accidents or injuries from the flaw. As a fix, dealers will replace the fuel line, which will take around an hour. Porsche will contact owners directly to arrange for the service. The company discovered the issue "after a precise examination of complaints," according to its statement, and corrected the problem for units in production. Porsche Examines Macan S and Macan Turbo Vehicles October 30, 2015 Possible leak in low-pressure line – affected customers will be contacted directly Atlanta, Georgia. Voluntary safety recall: Porsche is conducting an examination of 58,881 Macan S and Macan Turbo vehicles around the world, of which 21,835 are in the United States and 3,490 are in Canada. The reason for this move is a possible leak in the low-pressure fuel line inside the engine compartment. The line will be replaced in the workshop. This is a purely precautionary measure, as there have been no reports of accidents or injuries as a result of this concern. The problem was identified after a precise examination of complaints and then immediately rectified in ongoing production. Owners of the vehicles will be contacted directly and workshop appointments will be arranged as quickly as possible. The work will take approximately one hour and will be carried out free of charge.