Porsche Automobil Holding SE (ETR:PAH3) has announced the launch of a hybrid version of its acclaimed sports car, the 911. With this, the German manufacturer is increasing its electric vehicle objectives and betting on an all-electric future.
Electric Future
As informed by CNBC, Porsche is betting hard on e-mobility and announced it expects that, by 2030, 80% of its sales worldwide will account for electric vehicles. Previous plans by the company were the same percentage but comprised of a mixture of both hybrid and fully-electric.
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Porsche CEO Oliver Blume conceded in a roundtable with media that “The future of Porsche is electric.”
The adjustment of the company’s strategy is based on the fact that the Taycan, Porsche’s first and only EV to date, accounted for 14% of the manufacturer’s 301,915 units sold worldwide in 2021. Sales of the model hit 41,296 and topped record sales of the 911 at 38,464 units, CNBC reports.
The EV market will see the brand’s new full-electric models, the Macan SUV and the 718 sports car, to launch in 2023 and 2025, respectively. The company’s CEO did not reveal a launch date for the 911 hybrid.
Flexible Strategy
Blume said the Taycan is a very important milestone for Porsche’s electrification strategy, and the company’s short-term target is to increase EV sales by 50% come 2025. According to the CEO, the company is running faster than expected to reach its goals.
According to Porsche, almost 40% of the vehicles the company sold in Europe were plug-in hybrid and full-electric, the former corresponding to two models that are seen as a short-term bridge to upcoming full-electric models.
However, the company said it would not drop internal combustion engine vehicles as it is lining up a $24 million investment in the development of e-fuel technology. This type of environment-friendly fuel aims at replacing traditional fuel in non-electric models.
Porsche had a stellar 2021 as it recorded record sales, revenue, and operating profit. The company’s sales hit $36.7 billion, $4.9 billion more compared to the previous year —operating also increased by 27% to $5.9 billion against 2020.
