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Porsche is increasing EV targets, confirms 911 hybrid sports car

Porsche is increasing EV targets, confirms 911 hybrid sports car

March 19, 2022: -As the all-electric Porsche Taycan sedan outsells the German carmaker’s iconic 911 sports car, the company is increasing its EV sales targets. It also plans to roll out a hybrid version of the 911.

On Friday, Porsche announced it expects 80% of its global sales to be all-electric vehicles by 2030. That compares with last plans for that amount of deals to mix all-electric and plug-in hybrid electric vehicles, including internal combustion engines with battery technologies.

“The future of Porsche is electric,” Porsche CEO Oliver Blume told media during a roundtable.

Blume is declining to predict the breakdown of the non-all-electric vehicles, citing a “flexible engine strategy” that could include internal combustion engines, hybrids, and plug-in hybrids.

The Taycan is Porsche’s first and all-electric car so far. It represented 14% of the company’s 301,915 vehicles sold in 2021. Taycan sales were 41,296, topping record sales of the 911 at 38,464 units.

The company’s coming two EVs are expected to be the Macan SUV in 2023, followed by the 718 sports car in 2025. Blume confirmed a hybrid version of its 911 sports car is coming, but he did not disclose a timeframe for its release.

Porsche reports coming 40% of Porsche vehicles sold in Europe were all-electric or plug-in hybrids vehicles or PHEVs. Porsche offers two PHEVs, which many views as a short-term, transitional technology before all-electric cars.

Porsche’s plans are unique among global carmakers because it doesn’t plan to give up on vehicles with traditional internal combustion engines entirely. Specifically for its 911 sports car, which is considered among the world’s best “driver’s cars.”

Porsche announced the latest $24 million investment in developing “e-fuels,” which officials say is a climate-neutral fuel to replace gasoline in nonelectric vehicles.

The new EV plans were announced in connection to Porsche, which revealed a preliminary agreement the previous month to be spun off from VW into a public company, announcing its 2021 financial results.

Porsche reported recent records in both sales revenue and operating profit. In 2021 were 33.1 billion euros, up 4.4 billion euros from 2020. Porsche’s operating profit last year increased by 27% to 5.3 billion euros compared to 2020.

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Porsche is increasing EV targets, confirms 911 hybrid sports car