Making Electric Cars Is Expensive: Here’s How One Automaker Intends To Fund It

As we’re sure many of you already know, designing and building electric cars is quite a costly endeavor. Even Tesla — which recently started to make a profit —  spent nearly a decade borrowing large sums of money (and selling off its debts) in order to fund development and production of its electric cars.

Porsche — which made an estimated $17,000 or more profit on every new car sold last year — is making the switch from gasoline and diesel to fully-electric. Its first mass-produced electric car, the 2020 Porsche Taycan, will soon enter production. And in order to sell it to its customers without a major price hike over its previous models, Porsche says it needs more money.

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