Porsche

Porsche is to develop an electric vehicle to compete with Tesla’s model S, according to German media outlet Manager Magazin.

Details of the German car marker's first-ever series production electric car remain undisclosed. The model will likely feature a lithium-ion battery developed jointly with Audi. The all-electric driving range is aimed to be about 250 miles. The model will be available with a choice of rear- and all-wheel drive.