Following a string of rumours, Porsche has announced an electric Cayenne is in the pipeline. The disclosure was made by chairman Oliver Blume during the Annual Press Conference 2023 event. The 54-year-old executive specifically referred to the EV as a fourth-generation SUV, meaning it won't be based on the current model slated to receive a facelift in April. The electric model is due to go on sale after the Macan EV (2024) and electric 718 (2025).

The folks from Zuffenhausen also reconfirmed a larger SUV positioned above the Cayenne is being developed and will sit on the SSP Sport engineered by Porsche. Blume explained the bigger EV is coming as a response to increasingly profitable markets such as China and the United States. The new member of the growing portfolio is being "designed to offer strong performance and automated driving functions with the typical Porsche flyline, along with a completely new experience inside the vehicle."

2024 Porsche Cayenne facelift teasers

With the Taycan and upcoming Macan, 718, Cayenne, and large SUV electric models, Porsche wants more than 80 percent of its annual sales to be EVs by 2030. A purely electric 911 is not planned for this decade, but a hybrid has been confirmed to arrive before 2030.

During the same Annual Press Conference 2023 event, the German luxury brand also announced the "Road to 20" programme, signalling an objective to achieve a Volkswagen Group operating return on sales of more than 20 percent in the long term. To become even more profitable, Porsche aims to tweak its product range and pricing in the years to come during which it’ll also develop more limited-run special editions. In addition, the Porsche Sonderwunsch (special request) division of the Porsche Exclusive Manufaktur and Porsche Classic departments will be expanded.

Although more and more R&D efforts are being directed at battery-powered EVs, Porsche remains committed to e-fuels as it believes it can "play a useful complementary role – for the large number of existing cars and niche segments." Blume went on to say synthetic fuel could be just as useful for ships and planes. Pilot production started at a factory in Chile back in December 2022.