Porsche is scaling back its ambitions for electric vehicle sales due to weaker-than-expected dynamics in key markets, including Europe. The automaker has officially stated that the transition to electric vehicles will take longer than anticipated by most manufacturers and the EU.
The initial goal of the German automaker was for 80% of its vehicle sales to be exclusively electric by 2030. However, Porsche now officially announces that this target is changing. The company links this development to customer demand and advances in the electric mobility sector. “The transition to electric cars is taking longer than we thought five years ago,” the company stated in its announcement.
Automotive executives from Mercedes-Benz to Renault have warned in recent months that the goals set in previous years for pure electric vehicle sales over the next decade were too ambitious, as customers remained cautious about moving away from internal combustion engine vehicles.
Porsche highlighted the differences in the adoption of electric vehicles across its three key markets, with demand being far ahead in China, slower in Europe, and insufficient in the US.
Nevertheless, this development comes at a time when the German company is racing against time to revise and, even more so, halt its plans for launching the new electric 718 Boxster and Cayman models by 2025.
