German luxury and sports car manufacturer Porsche has promised a handful of new electric vehicle (EV) models over the remainder of the decade, including a new all-electric SUV to be positioned above the popular Cayenne.
Speaking at the company’s annual press conference, Porsche executives confirmed the soon-to-be-released Porsche Macan, which they say has “reached the home straight” and will be available in 2024.
An all-electric 718 is planned for the middle of the decade, while an all-electric Cayenne will follow, underlining for Porsche it’s goal of delivering over 80% of its new vehicles as all-electric models by 2030.
Porsche is also planning to unveil an all-electric SUV that they say will be “positioned above the Cayenne” and which will be “designed to offer strong performance and automated driving functions with the typical Porsche flyline, along with a completely new experience inside the vehicle.
The new EV SUV will be based on Porsche’s SSP Sport platform, but it won’t be cheap. “We are thereby underlining and strengthening our sporty luxury positioning,” said Oliver Blume, chairman of Porsche’s executive board. “We are observing growing profit pools in this segment, in particular in China and the US.”
Within its larger sustainability targets, Porsche will also work towards achieving a net carbon neutral value chain for its vehicles by 2030, which includes a net carbon neutral use phase for future BEV models.
Porsche’s electric future will be backed by what Blume describes as “the strongest [financial] results in the history of Porsche”, with a 13.6 per cent jump in revenue to €37.6 billion ($A60.5 billion). Operating profit was similarly up, while group deliveries and automotive net cash flow also reached record levels.
Porsche delivered a total of 309,884 vehicles in 2022, up 2.6% from 301,915 in 2021. This included a battery electric vehicle (BEV) share of 11.3%, which was down slightly on 13.7% in 2021, but does highlight the company’s overall boost to sales. Porsche is aiming for a BEV share in 2023 of between 12% to 14%.
And, presaging the success of the company’s Road to 20 programme – aiming for an operating return on sales of more than 20% in the long term – Porsche’s operating return on sales increased from 16% to 18%.
Joshua S. Hill is a Melbourne-based journalist who has been writing about climate change, clean technology, and electric vehicles for over 15 years. He has been reporting on electric vehicles and clean technologies for Renew Economy and The Driven since 2012. His preferred mode of transport is his feet.