Some Porsche shareholders have questioned the car manufacturer’s ambitious battery-electric vehicle plans due to a slowdown in demand in several global markets.
At Porsche’s annual shareholder meeting on Friday, some investors asked why the company continues to push forward with a plan for plug-in vehicles to account for more than 50% of the brand’s total sales next year. Moritz Kronenberger from Union Investment said Porsche should aim to bolster margins and free cash flow by selling more combustion-powered models until EV demand picks up again.
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