It was in the spring of 2020 that Porsche announced that both the Boxter and Cayman (718) would be electrified and that the current generation would be the last with a gasoline engine. Now it is clear that this will not be the case. Porsche has changed its mind again and rethought its strategic decisions for the future.
This includes further development of their iconic boxer six, which will also be inside the upcoming 718 generation. This is because demand for their electric cars is shrinking significantly, which led to the announcement a little over a week ago that the upcoming Cullinan rival and large luxury SUV will no longer be an electric car but a gasoline-powered story with or without hybrid assistance.
CEO Dr. Oliver Blume:
"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."
Road & Track Magazine:
"What's the reason for all of these changes? Porsche's statement says it's the "company's response to the significant slower growth of the demand for exclusive battery-electric vehicles." Porsche CEO Dr. Oliver Blume added that "this increases our flexibility and strengthens our position in a currently highly volatile environment," and that "we want to meet the entire range of customer requirements." With Porsche announcing profits expected to come in at just 2% this fiscal year, rather than the 5-7% the brand previously expected, it seems the automaker is pulling whatever levers necessary to keep buyers who may not be keen to go EV just yet intrigued."