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2h ago

Porsche Pulls Back From EV-Only Plan, Triggering €5.1 Billion VW Charge

The shift restores petrol and plug-in hybrid options across key models, with Porsche guiding a €1.8 billion operating hit in 2025.

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Overview

  • CEO Oliver Blume told investors the next 718 Boxster and Cayman will include top internal-combustion derivatives after plans for an electric-only range were reworked.
  • The K1 flagship SUV will launch with petrol and plug-in hybrid power rather than as an EV, while a performance-focused EV platform is deferred well into the 2030s.
  • Reuters reports Volkswagen Group will take a €5.1 billion charge tied to the reset, and Porsche now targets a roughly 2% return on sales in 2025.
  • Cayenne and Panamera lines will continue with combustion and plug-in hybrid versions well into the 2030s, with an electric Cayenne still slated to reach showrooms next year.
  • Porsche also plans a new Macan-size petrol-hybrid SUV to sell alongside the electric Macan, citing softer EV demand, Chinese market weakness and U.S. tariff pressures.