Porsche's Revised Electric Vehicle Strategy

Following previous high-set targets, Porsche has revised its strategy in transitioning to electric vehicles, citing slower-than-expected progress in EV production and shifts in global demand While initially adamant that 80% of their sales would be electric by 2030, Porsche management now views this target as overly ambitious, indicating the transition will take longer than previously expected Updates include the Porsche Taycan, which now boasts improved EPA range ratings with its base battery pack. In related news, Porsche is considering investment opportunities with struggling battery manufacturer Varta, potentially acquiring stakes not just in Varta’s V4Drive division but also the parent company, Varta AG, as part of a restructuring strategy through pre-insolvency proceedings This collaboration might enable Porsche to boost its prowess in battery technology for future electric vehicles.