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Porsche Scales Back EV Plan as K1 Launches With Gas and Hybrid, VW Flags €5.1 Billion Hit

Cooling luxury‑EV demand plus fiercer China competition, with higher U.S. tariffs, prompted a pivot to longer‑lived combustion and plug‑in hybrids.

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Overview

  • Porsche will delay several battery‑electric launches, redesign a next‑gen EV platform with VW brands, and book up to €1.8 billion against 2025 operating profit.
  • Volkswagen cut its 2025 group margin outlook to 2–3% and warned the Porsche changes and other charges will reduce operating results by €5.1 billion.
  • The flagship SUV above Cayenne (K1) will debut with combustion and plug‑in hybrid powertrains, while Cayenne and Panamera ICE/PHEV lines are extended well into the 2030s.
  • Top variants of the next‑generation 718 Boxster/Cayman will retain petrol options, even as an electric 718 remains in development.
  • EV programs already far along, including the Cayenne EV, stay on track, while investors reacted negatively with share declines and reports of a forthcoming DAX exit.