Porsche Revises EV Strategy, Keeps Petrol for Top 718

Porsche announced a strategic realignment reversing several EV-only plans so top-spec versions of the next-generation 718 Boxster and Cayman will retain combustion engines while most other 718 variants move to electric powertrains. The large K1 SUV that had been planned as an EV will now launch with combustion and plug-in-hybrid options, and Porsche is postponing SSP Sport–based projects and delaying some EV programs into the 2030s. Management said the postponements will incur about a €1.8 billion hit and have cut the company’s near-term profit margin to roughly 2% this year. CEO Oliver Blume cited falling demand for exclusive battery-electric luxury cars, weakening luxury demand in China, and U.S. tariff pressures as drivers of the change, and Porsche says Cayenne and Panamera combustion and PHEV models will continue well into the next decade. The shift has unsettled investors, but Porsche plans to keep updating EV models such as the Macan and Taycan while balancing ICE, PHEV and BEV offerings. Details on exact powertrains and manual-transmission availability for high-performance 718 derivatives remain unclear.