Porsche AG is considering discontinuing its electric sports car line to cut costs, which have sharply increased due to an overly ambitious bet on electric vehicles, Bloomberg reported, citing sources familiar with the matter, UNN writes.
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New CEO Michael Leiters may abandon the planned Boxster and Cayman 718 electric vehicle lineup due to development delays and rising costs, sources said.
Gasoline versions of these two models have for many years been a relatively affordable way to own a Porsche, with a starting price of around 70,000 euros ($82,754), the publication writes. Their production was discontinued in 2025.
This move may be necessary as Porsche faces budget constraints due to falling sales in China and the cost of reversing its EV strategy. Discussions about adding a plug-in hybrid option to the new lineup only complicated matters, as such a car requires a different platform, sources said. This would delay the project by several years, putting Porsche at risk of implementing outdated technologies at a time when the company needs to generate excitement around its products, they added.
While abandoning the line is one of the options Leiters is considering, he has not yet made a final decision, sources said.
The CEO, who has held the position since January 1 after succeeding Oliver Blume, is under pressure to balance cost constraints with concerns about underutilization of factories due to lower-than-expected demand for Porsche electric vehicles.
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