Porsche Sets More Ambitious Electric Vehicle Target

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Porsche Sets More Ambitious Electric Vehicle Target


Luxury sportscar maker Porsche, which parent Volkswagen could float in a partial stock market listing later this year, on Friday set out a more ambitious sales target for electric vehicles.

More than 80 percent of newly sold Porsche vehicles will be fully-electric in 2030, Porsche chief executive Oliver Blume said at the group’s annual press conference.

That target previously applied to Porsche’s electrified models overall, which also includes plug-in hybrids.

Porsche also stuck to its long-term target of an operating margin of at least 15 percent, finance chief Lutz Meschke said.

Volkswagen and its top shareholder Porsche SE struck a framework agreement for a potential partial listing of Porsche, which could value the division at up to 90 billion euros (roughly Rs. 756.289 crore).

Such a listing would include listing up to 25 percent of Porsche’s preferred stock, selling 25 percent plus 1 ordinary share in the carmaker to Porsche SE and paying out 49 percent of IPO proceeds to Volkswagen’s shareholders as a special dividend.

© Thomson Reuters 2022




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