Porsche Rethinks It's EV Only Strategy

About a decade ago, more than a few high-end luxury automakers looked at the success of Tesla and said, "Why not us?" But what they're now learning is that many of their clients would want to pick an internal combustion car over an electric vehicle, and even pay a premium for it if that's what it takes. Porsche had previously committed to going all-electric at some point in the next decade, but recent statements by a company official bring that plan into question.

 

Porsche board member Lutz Meschke brought the issue to light on the recent Q3 earnings conference call when he said the company had observed a “slowdown in the BEV transition and the customer demand is not satisfying overall.” He went on to say, “A lot of customers in the premium and luxury segment are looking in the direction of combustion-engined cars, there’s a clear trend.”