Three More Companies Are Expecting Longer Transition to EVs
The list of car companies scaling back their EV plans and ambitions due to the segment’s slower than expected growth keeps getting longer and longer.
Porsche is the latest. In recent statements quoted by Reuters, the German sports car maker acknowledged that the transition to EVs is taking longer than it anticipated five years ago when it aimed for 80 percent of sales to be battery-powered models by 2030.
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Porsche still believes it has the product strategy set up to be able to achieve that goal—notably with the Taycan, the new Macan, the next-gen 718 models, a future Cayenne EV and even a larger flagship SUV—but customer demand and the development of charging infrastructure will ultimately be the deciding factors. No new target has been set for now.
Audi, another luxury division of Volkswagen AG, previously extended to 2033 its deadline for building only new electric models. However, a few days ago, CEO Gernot Döllner told British media outlet Autocar that the phase-out of internal combustion engines will take more time than expected.
The company, which has just introduced its brand new Q6 e-tron midsize crossover and will follow it up with the A6 e-tron sedan later this year, said it wants to be “flexible” and put more focus on plug-in hybrids in the coming years, including in North America.
Rumour has it that Audi is looking to kill the Q8 e-tron sooner than expected due to a drop in demand, but this has yet to be confirmed by management.
Meanwhile, Genesis had been committed to launching only EVs from 2025 onwards and becoming a full-EV brand five years later. Guess what? Plans have changed over there, as well.
Speaking with TopGear, the South Korean luxury brand’s global director Mike Song flat out announced his intention to introduce a first hybrid model "as soon as possible," validating reports that began to surface in February. He said customers appear to currently be more interested in hybrids than in fully electric vehicles.
Song didn't specify which models will receive hybrid powertrains, but he said there would be “as many models as possible.” Genesis will of course bank on systems from parent company Hyundai, which could mean hybrids or plug-in hybrids—or both.