Porsche waters down EV ambitions as transition will take 'years'

Porsche has signalled that the transition to electric cars is happening at a slower pace than previously expected by changing its plan from acquiring 80% of fully electric cars by 2030. Previously these were pledged to this target but Porsche now ties it to customer acceptance and development of the electric mobility segment as spelt out recently.

“The shift to electric vehicles is slower than what was expected five years back,” this more than a statement, is an admittance by Porsche. “Thanks to our product plan, the planned figures at the highest level open up the option of achieving a share of more than 80% of all vehicles as all-electric by 2030; however, this always depends on the market situation and further advances in electromobility.”

Following similar comments made by executives of various auto makers including Mercedes-Benz and Renault in recent past Porsche said that its customers were not ready to move away from gasoline cars. This low-ris consumer attitude has made manufacturers rethink their lofty goals of achieving a massive market-share of fully electric vehicles as they look forward to the next decade.

Addressing the issue of market saturation in the car’s key markets, Porsche recently explained that its uptake of electric cars is strong in China but low in Europe, and inconsistent in the US. As a result of this, Porsche reiterated on the continued relevance of its two-pronged approach of investment in classic combustion engine as well as full electrification of automobiles.

‘Dual strategy is even more important’, Porsche stated, stressing that while the company is focused on the transition to electric vehicles, it is not willing to abandon the traditional ICEs over the near term.