2006 Porsche Cayman S 987 6speed - Many Upgrades, Quick! - 81k Miles on 2040-cars

Auto blog

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:

Noted Porsche collector Magnus Walker learns what a TED Talk is firsthand

Porsche collector Magnus Walker has the name and looks of a Viking, but once he starts talking about his life story and what drives him, he's an absolutely fascinating guy. Walker recently gave a Ted Talk at a Tedx conference at UCLA and claimed he didn't really understand the idea behind the speeches. You would never know it, though. Walker is as gifted a speaker as he is a talented restorer of some seriously cool Porsches.
Walker's talk is titled "Go with Your Gut Feeling," and it amounts to his autobiography. He recounts his birth in England, dropping out of school at 15 and moving to the US at 19. Once in Los Angeles, he started selling second-hand clothes and grew it into a fashion business.
Of course, what makes him interesting to us is his passion for Porsches. He fell in love with them when he saw a white 911 as a child at the Earl's Court Motor Show in England, but Walker waited until the '90s to buy his first one. From there he started racing and eventually restoring them. Since the documentary Urban Outlaw about him was released, Magnus has become famous for the love of the brand.

Watch this Koenigsegg CCX hit 211 mph on a runway, outpacing McLaren's P1

Vmax200 in in England organizes events where those who care to show up with a supercar can run them down the two-mile runway at Bruntingthorpe Proving Ground. Evo attended the latest event, bringing an impressively green Lamborghini Aventador to test its girth and gaping vents against other precious metals like the McLaren P1 and F1, Ferrari F12 Berlinetta and Enzo, a Porsche Carrera GT and enough 911 Turbos to start a dealership. Speaking of those Porsches, nine of the top ten slots in the top speed competition are claimed by modified 911 Turbos.
A monochrome Swede ruled them all, though, a black-and-white Koenigsegg CCX setting fire to the speed trap run after run, hitting 211 miles per hour at its quickest. It was followed by, surprise, a 911 GT2 modified by 9E that did 210 mph. You can watch the EVO video below, GT Spirit has a bigger breakdown of the day, and we've included another vid showing the tandem launch of the CCX and McLaren F1.