(Bloomberg) — The first two-seat electric Porsche will be a 718, executives confirmed in a video call with reporters.
A hybrid version of the Porsche 911 can also be expected, Oliver Blume, CEO of Porsche AG, said Thursday. But he didn’t specify when production would start — that it would use integrated technology rather than plug-in hybrid. They also did not answer the question of how many variants of the 911 might go the hybrid route.
The 911, Porsche’s crown jewel for 58 years, includes a wide range of variants, from the entry-level $101,200 Carrera to high performance Turbo S versions that cost more than $200,000.
The news comes following Volkswagen AG said on February 22 which is preparing an initial public offering for Porsche, its most profitable asset, to help finance the production of additional electric vehicles. Blume and Porsche CFO Lutz Meschke have adamantly declined to comment on the possible IPO, which might value the company at up to 90 billion euros ($99.7 billion), according to Bloomberg Intelligence. The IPO might take place in the second half of this year.
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Porsche has dropped hints of a 718 Boxster/Cayman-style electric vehicle since it unveiled the Mission R at the Munich auto show last year, but this was the first time executives had confirmed speculation regarding a new electric sports car, which It will be his third electric model. Porsche began delivering the Taycan electric sedan in 2020, and a fully electric macan it is expected in 2023.
By 2025, half of all new Porsches sold will be fully electric or plug-in hybrids, Blume said. By 2030, 80% of all Porsches will be fully electric, he said. In 2021, less than 40% of all new Porsches delivered in Europe were plug-in hybrids or fully electric.
Sales of the Taycan, which starts at $82,700, have been shot. Last year, the company delivered 41,296 units globally, surpassing sales of the legendary 911, which reached a record 38,464 units.
In total, Porsche delivered 301,915 vehicles to customers in 2021, an increase of 11% on the 272,162 delivered in 2020, and the first time it has surpassed the 300,000 mark.
Deliveries increased in all global sales regions in 2021, led by China with more than 95,000 deliveries, up 7.5% from 2020. Porsche also grew rapidly in the United States, where sales rose 22% to more than 70,000 units. In Germany, Porsche increased deliveries by 9.2% to almost 29,000 units.
“We see that 2021 has made it clear that we are resilient, even in times of storm,” Blume said. “We have achieved good results. This has put us in a first-class position for the future.”
Still, executives said American customers should expect significant delays across all of Porsche’s product lines in the coming months due to unexpected hurdles. In February, it destroyed hundreds of Porsche cars when a ship caught fire and sank in the Atlantic Ocean. The company has also had trouble getting parts from Multiple providers in Ukraine since the Russian invasion.
“All model lines will be affected in the coming months,” Meschke said.
original note:
Porsche Confirms First Electric Two-Seater Will Be 718, Not 911
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