Diesel vehicles will remain important for the brand in the foreseeable future though.
There’s no denying Porsche is one of the most technologically advanced companies in the automotive market today. It offers some of the fastest sports cars and has arguably the sexiest hybrid vehicle on sale – the Panamera Turbo S E-Hybrid Sport Turismo. Thankfully, the car maker has no intention of changing that as it faces its biggest challenge in the last couple of decades – electrification.
In a recent interview, the company’s finance chief Lutz Meschke explained more about how Porsche will deal with electrification and how it wants to remain profitable during this process. Currently, the German manufacturer enjoys a good 15 percent profit margin. 'It's a strategic target. We need to structure the company so that it is in position to sustainably achieve that,' Meschke told Automotive News. 'There can always be years when it might drop to below 15 percent due to exchange rates or an economic crisis, but every worker has to know we are not letting up.'
In support of its electrification program, Porsche will invest about over £750m into new EV technologies, aiming to become one of the leaders in hybridisation and electrification. Meanwhile, the company says it will continue to improve its combustion engines and, contrary to previous reports, will also continue to sell diesel cars as long as possible.
'We are keeping all our options open and will tackle specific product decisions as late as possible,' Meschke said. 'Much depends on the extent to which electromobility gains momentum and under what circumstances. Over the course of the next 10 years, we plan to offer optimised combustion engines, plug-in hybrids and full-electric sports cars at the same time. The first all-electric Porsche is set to hit the road in 2019. And you can be assured that this is only the beginning. We will set standards also in terms of e-mobility.'
Even today, approximately two years after the Dieselgate exploded, half of Porsche’s four-door car sales in Europe belong to diesel-powered vehicles. For this reason, the sports car maker doesn’t 'envisage immediately stopping production of diesel vehicles'.