All articles tagged with #ev delay
Porsche's stock dropped over 7% after announcing delays in its electric vehicle rollout due to weakening demand and economic challenges, leading to a strategic shift towards extending combustion engine models and hybrid options, amidst broader struggles faced by European luxury carmakers competing with Chinese brands.
Porsche is delaying some EV models and extending combustion engine sales, citing weak demand for EVs, which will cost VW around $6 billion in profits by 2025. This move comes despite the global surge in EV sales and the industry shift towards electrification, highlighting Porsche's reluctance to fully embrace the transition and risking its relevance in a rapidly evolving market.
Porsche is delaying its electric vehicle plans due to slowing demand, shifting focus back to combustion engines and hybrids, and redesigning its EV platform in collaboration with VW Group, while its flagship SUV above Cayenne will now launch with gas and hybrid options instead of fully electric.