Autos

Porsche taking stake in ‘e-fuels’ maker Highly Innovative Fuels Global

0


A Porsche 911 Carrera 4S stands in the evening light in a drive-in cinema on the circuit of the Leipzig Porsche factory.

Jan Woitas | picture alliance via Getty Images

DETROIT — Porsche is upping its investment in the development of climate-neutral “e-fuels” made to replace gasoline in traditional combustion engines.

The German automaker, owned by Volkswagen, announced on Wednesday a $75 million “long-term” investment in Highly Innovative Fuels Global, a manufacturer headquartered in the U.S. with operations in Chile. Porsche will acquire 12.5% of the Delaware-based holding company.

The move builds on an existing tie-up between the companies. In late 2020, Porsche announced a roughly $24…



Source cnbc.com

0 0 votes
Article Rating

Surging interest rates push mortgage demand down more than 40% from a year ago

Previous article

GM expects record year of Chevy Bolt EV sales following fire recall

Next article

You may also like

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

More in Autos