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2h ago

Porsche Scales Back EV Plan as VW Warns of €5.1 Billion Profit Hit

Volkswagen cut its 2025 margin outlook following Porsche’s decision to delay electric models and rethink its product roadmap.

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Porsche cited 'new market realities' as it scaled back its EV ambitions

Overview

  • Volkswagen said Porsche’s changes and related charges will lower the Group’s 2025 operating result by €5.1 billion, trimming its margin forecast to 2–3% from 4–5%.
  • Porsche will delay several electric launches and extend combustion and plug‑in hybrid offerings for core lines such as Cayenne and Panamera well into the 2030s.
  • The new ultra‑luxury K1 SUV will launch only with combustion and plug‑in hybrid powertrains, reversing an earlier plan for an all‑electric debut.
  • A dedicated next‑generation EV platform will be rescheduled and redesigned with VW Group brands, with the SSP Sport program postponed into the 2030s.
  • Porsche expects up to €1.8 billion pressure on 2025 operating profit from depreciation and provisions, while saying the Cayenne EV and a 718‑segment two‑door remain on schedule as its shares head for a DAX exit.