Porsche to Continue ICE Development As EV Demand Wavers

Porsche CEO Lutz Meschke said, “There is a clear trend in the premium luxury segment in the direction of combustion-engine cars, therefore we will react in our product cycle.” The automaker has seen EV sales tumble, falling to 7.3 percent in September, down from around 12 percent in September of last year. Originally, Porsche wanted electrified vehicles, including EVs and PHEVs, to account for up to 50 percent of its sales by 2025, increasing to 80 percent for EVs by 2030.

China has proven particularly challenging for the automaker, with a 29 percent drop in sales through September. “We see steep ramp-up curves for the BEVs in China, but luxury is still missing within the segment. It’s challenging, not only for Porsche but for all the European premium and luxury automakers,” Meschke told analysts late last month.

Though it has only just released its second EV, Porsche has plans for a large, high-end electric SUV to slot into the lineup above the Cayenne. At the same time, new internal combustion versions of the Panamera and Cayenne are in the works. The 911 is going hybrid for the first time next year, but it’s anyone’s guess how quickly we’ll see new Porsche EVs after the SUV arrives.

[Images: Porsche]

Become a TTAC insider. Get the latest news, features, TTAC takes, and everything else that gets to the truth about cars first by subscribing to our newsletter.