Porsche joins the number of car manufacturers that are now putting a stop to, cancelling upcoming electric car investments and doing a 180. The idea was that Porsche would roll out a luxury SUV (project name: K1) soon, which would be powered by electricity and become their new flagship. A competitor to, among others, the Rolls Royce Cullinan. It will not become a reality, the car giant now announces. Instead, this SUV will be built with a gasoline engine and possibly also a hybrid.
Oliver Blume, CEO:
"Today we have set the final steps in the realignment of our product strategy. We are currently experiencing massive changes within the automotive environment. That's why we're realigning Porsche across the board. In doing so, we want to meet new market realities and changing customer demands."
New brand-defining vehicle models with combustion engines
"The product range is to be supplemented by brand-defining vehicle models with combustion engines. Due to market conditions, the new SUV series above the Cayenne, which was previously planned to be fully electric, will initially be offered exclusively as combustion engine and plug-in hybrid at market launch. In addition, current models such as the Panamera and the Cayenne will be available with combustion engines and plug-in hybrids well into the 2030s. New generations of successor models have been added to the Cycle Plan for these vehicle models."