Porsche to develop new gas and Hybrid vehicles alongside Evs

Porsche will continue to develop new gas and hybrid vehicles in the coming years to sell along with a growing line-up of electric vehicles, the automaker's chief financial officer, Lutz Meschke, has revealed.Porsche will continue to develop new gas and hybrid vehicles to sell along with a growing lineup of electric vehicles.

In a conference call last month outlining Porsche's Q3 financial results, Meschke said the EV transition will take longer than expected, during which time Porsche will continue to use its development and production flexibility to launch vehicles with gas engines to meet customer demand in different regions.

"In the Premium Luxury segment, we react in the product cycle because there is a clear trend in the direction of combustion engine cars," he said.

Meschke cited the example of Taikang, whose 2024 Q3 sales were only 3,394 units, down 35% from a year earlier, despite electric sedans and wagons being updated with more power and range.

Even in China, the largest market for EVs, Porsche is struggling to sell its electric models due to a lack of demand for premium EVs, Meschke said.

"We see a steep ramp-up curve for the BEVs in China, but we still lack luxury within the segment," he said.

It wasn't long before Porsche set a target to turn 80% of sales into EVs by 2030, but slowing demand growth for battery-powered cars last year forced automakers to abandon that target.Porsche says that by 2030 it will be able to meet 80% of the original, but it needs to justify it.

Porsche has already confirmed that the current third-generation Cayenne will remain on sale past 2030, with additional updates along the way to keep it fresh. Porsche said the update will ensure that Cayenne's available twin-turbocharged V-8 engine is ready to meet future regulations Electric Cayenne is also scheduled for around 2026.

Panamera, which has just been redesigned, is also a likely candidate to continue to be sold for the next 10 years. And Porsche's 911 could continue to offer gas engines in the next 10 years with the help of hybrid technology. Porsche has already added a hybrid powertrain to the current 911 Targa model, and Meschke at the conference said the 911 Turbo will go on a hybrid route in the second half of 2025.