Porsche is backtracking on its goal of promoting 80% electric cars by 2030. While this may still happen, Porsche said the goal is too ambitious and that the transition “will take longer than expected. “
Despite the highly anticipated launch of several cars in the coming years, Porsche is no longer committed to its sales target of 80% cars by 2030.
The company said in a statement on Monday that it could still reach its target, but only if the market allows it. “The transition to electric cars will take longer than expected five years ago,” he said. Sales will be driven by demand.
Porsche reiterated: “Our product strategy is designed in such a way that by 2030 we will be able to deliver more than 80% of our fully electric cars. However, this will depend on visitor demand.
Porsche is the latest automaker to postpone or abandon an electric vehicle initiative. Ford, GM, Mercedes-Benz and several others commented, generating “slower than expected” demand.
The comments come after Porsche’s EV sales fell by 51% in the first part of 2024, ahead of the launch of new models. Despite this, CEO Oliver Blume said he was confident that he could implement the “toughest range” in Porsche’s history.
Porsche has introduced 4 new models this year, its maximum number. These come with the new Taycan 2025, which offers more range, functionality and faster charging. They also come with the new Panamera and the 911 hybrid. However, the maximum will probably be the all-electric Macan.
The first Macan Electric rolled off the production line at the Porsche plant in Leipzig in May, ahead of deliveries in the second part of the year.
According to Blume, the Porsche Macan EV “has recorded a very acceptable order volume”. The new models will boost sales. As Blume explains, Porsche is in a V-shaped sales cycle with the launch of new vehicles.
After the Macan, Porsche will launch an electric 718, whose debut is expected until the end of 2024. Then we will finally see the electric Porsche Cayenne, scheduled for 2026 (see a video of its tests now).
In the longer term, Porsche will launch a high-end electric seven-seater. Internally codenamed “K1 SUV,” the electric vehicle will compete with ultra-luxury automakers such as Ferrari’s Purosangue. If there is demand, Porsche can still meet its 2030 EV sales target, but it turns out that the automaker is reneging on its commitment.
Source: Reuters, Porsche AG
Peter Johnson covers the automotive industry’s step-by-step transformation to electric vehicles. He is an experienced investor, an enthusiast of money and electric vehicles. His enthusiasm for electric vehicles, mainly Tesla, is one of the main reasons why he pursued a career in the investment space. If he doesn’t tell you about his latest discoveries in the 10K, you can find him enjoying the outdoors or running.