Porsche is backing off its most aggressive electrification plans. The legendary German automaker recently said it would continue developing internal combustion engines across its catalog to satisfy customer demand as EV sales take a hit.
Porsche CEO Lutz Meschke said, “There is a clear trend in the premium luxury segment in the direction of combustion-engine cars, therefore we will react in our product cycle.” The automaker has seen EV sales tumble, falling to 7.3 percent in September, down from around 12 percent in September of last year. Originally, Porsche wanted electrified vehicles, including EVs and PHEVs, to account for up to 50 percent of its sales by 2025, increasing to 80 percent for EVs by 2030.
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