Porsche scales back 80% EV goal by 2030 amid falling sales, shifting market

Porsche is backing off its goal of 80% EV sales in 2030. Although it could still happen, Porsche said the target was too ambitious and the transition “will take longer than we assumed.”

Despite several highly-anticipated electric vehicles launching over the next few years, Porsche is no longer committing to its 80% EV sales goal in 2030.

The company said in a statement Monday that it could still hit its target, but only if the market allows it. “The transition to electric vehicles will take longer than we assumed five years ago,” the statement said. Instead, sales will be determined by demand.

Porsche reiterated, “Our product strategy is set up such that we could deliver over 80% of our vehicles as all electric in 2030.” However, that will depend on customer demand.

Porsche is the latest automaker to push back or abandon an EV initiative. Ford, GM, Mercedes-Benz, and several others have made similar comments, mentioning “slower-than-expected” demand.

The comments come after Porsche’s EV sales fell 51% in the first half of 2024 ahead of new model launches. Despite this, CEO Oliver Blume expressed confidence with the “most powerful range” in Porsche history rolling out.

Porsche backs off 2030 EV sales goal

Porsche launched four new models this year, its most ever. These include the new 2025 Taycan, which has more range, performance, and faster charging. It also includes the new Panamera and hybrid 911. However, the most important will likely be the all-electric Macan.

The first Macan Electric rolled off the assembly line at Porsche’s Leipzig plant in May ahead of deliveries in the second half of the year.

According to Blume, the Porsche Macan EV “recorded a very pleasing order intake.” The new models will help boost sales. As Blume explains, Porsche is in a “V-shaped” sales cycle with new vehicles rolling out.

After the Macan, Porsche will launch an electric 718, expected to debut by the end of 2024. Following that, we will finally see the electric Porsche Cayenne, due out in 2026 (See a video of it testing already).

Looking further out, Porsche will launch a range-topping electric seven-seater. Codenamed “SUV K1” internally, the EV will rival ultra-luxury automakers like Ferrari’s Purosangue. If the demand is there, Porsche can still hit its 2030 EV sales goal. But, it appears the automaker is pulling back its commitment.

Source: Reuters, Porsche AG