Porsche plans new addition to luxury all-electric SUV market

Porsche has revealed it is planning to add a new luxury all-electric SUV model to its portfolio, in comments made by chairman Oliver Blume at the car maker’s Capital Markets Day this week.

“We plan to add a new luxury, all-electric SUV model to our attractive portfolio, which will roll off the production line in Leipzig,” said Blume.

“This will further expand our position in the luxury automotive segment. We are targeting the higher margin segments in particular and aim to tap into new sales opportunities in this way.”

Nothing else was said about the promised new EV which will be produced at the same plant as the upcoming Macan EV.

Porsche referenced “expert studies” which suggested that the luxury car market they are targeting is expected to experience strong growth in the next few years thanks to both battery electric vehicles (BEVs) and SUVs.

“We are very well positioned to benefit from these trends,” said Lutz Meschke, Porsche CFO. “Porsche is a leading player in the market for sporty SUVs and in the all-electric luxury car segment.”

“Although we are clearly positioned in the luxury automotive segment, we benefit from significant economies of scale,” added Blume, referring to their cooperation with the larger Volkswagen Group, adding that “This results in structural growth opportunities for us.”