Porsche targets 20,000 electric car sales annually

Volkswagen’s Porsche department expects annual sales of around 20,000 for its very first all-electric vehicle, the Mission E, the high-end automaker’s chief executive informed a German publication.

Porsche, the second-largest contributor to Volkswagen’s group revenue, prepares to develop at least 1,400 jobs to construct and sell its competitor to Tesla’s Model S. The Porsche Mission E is going to hit the market in 2019.

“We have computed an amount in the order of about 20,000 for the Mission E,” Porsche CEO Oliver Blume was quoted as saying during an interview.

Porsche labor boss Uwe Hueck in July refused to specify production targets for the Mission E, but informed that Porsche needs to sell at least 10,000 of a model annually to make a profit.

U.S. electrical automobile professional Tesla had overall vehicle deliveries of 50,580 in 2015.