Porsche Is Now Scaling Down On Its EV Ambitions As It Will Take Longer Than Expected

Porsche now expects the transition to electric vehicles to take longer than it thought, after previously announcing that it aimed to have 80 percent of sales be fully electric by 2030.

It has now watered down that target by explicitly linking it to customer demand and developments in the electromobility sector, saying in a statement that it can now hit the 80% target if those factors justify it.

“The transition to electric cars is taking longer than we thought five years ago,” Porsche said in a statement.

“Our product strategy is set so that we could deliver over 80% of our vehicles as electric in 2030 — depending on customer demand and the development of electromobility.”

Automaker executives from Mercedes-Benz to Renault have warned in recent months that the targets they set in recent years for all-electric sales over the next decade were too ambitious as buyers remained reticent.

Porsche, which is struggling with low electric vehicle sales this year, highlighted the disparity in its three key markets in EV uptake, with demand well ahead in China, slower in Europe and patchy in the US. “Our dual strategy is more important than ever,” said Porsche, referring to its continued development of internal combustion engines and electrified cars.

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