Porsche has announced that they will produce their own high-performance battery cells with Custom Cells GmbH. Custom Cells GmbH is a German-based lithium-ion specialist.
Porsche’s investment accounts for a 83.75% stake in the company. The exact amount was not released but is in the double-digit millions of euros.
In a statement on Monday, the German automaker said the battery cells will charge in less than 15 minutes. Currently, the Taycan model can charge from 5% to 80% in 22 and a half minutes.
“The battery cell is the combustion chamber of the future. The new subsidiary will play a major role in researching, developing, producing and selling high-performance cells, ,” Porsche Chief Executive Officer Oliver Blume said Monday.
Small-scale production is set to start in 2024, and will include 60 million euros in funding by the German state. The factory will be outside of Stuttgart, and have an annual capacity of at least 100 MW hours.
This means the factory will produce enough cells for 1,000 sports cars a year. Once launched, the factory will employ 80 people.
If the cells are successful, Porsche may share the new high-performance cells with their fellow VW group brands. It is not clear nor was it announced if Audi or Lamborghini will use these cells in the future.