VW is legally obliged to aid in the electrification charge due to a legal dispute, but that hasn't stopped Porsche from joining in the excitement, and then some. Porsche has marked $7.5 billion towards electrification through 2022. This is a massive jump from the automaker's previous promise of $3.7 billion.

The Porsche AG Supervisory Board made this decision in their latest meeting, pushing the extra budget towards material assets and development costs. $1.2 billion of this investment will go towards hybridizing a number of their current models. This is presumably a result of the Panamera E-Hybrid's success.

$600 million will be dedicated to producing the Mission E, their first battery-electric vehicle. The electric car will have 600hp and a total range of somewhere around 300 miles. Porsche claims the vehicle will be able to gain a full charge in a little over 15 minutes.

Speaking of the Mission E, the vehicle is expected to begin production sometime next year, with 2020 models being its first release. Prototypes of the vehicle have already been built, and the factories are gathering the needed equipment now.

Porsche intends to use "several hundred million dollars" of the investment towards expanding production facilities, and about $868 million towards turbochargers, smart mobility, and other technologies. The automaker plans to build 400 Turbocharger stations in the EU, with an unannounced number in the States.