Porsche to Save Gas-Powered 718 Models in Latest EV Plan Revisions
Struggling with a business model that no longer works, German manufacturer Porsche announced last Friday a major revision to its long-term strategy. In particular, it will postpone the launch of certain new electric models while making more room for ICE-powered and hybrid vehicles.
“This increases our flexibility and strengthens our position in a currently highly volatile environment,” Porsche CEO Oliver Blume said in a statement. “With a convincing mix of combustion engines, plug-in hybrids and battery-electric vehicles, we want to meet the entire range of customer requirements.”
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Perhaps the biggest surprise is the gasoline-powered 718 Cayman and 718 Boxster getting a new lease on life. While Porsche confirmed their demise as recently as May of this year, with production to end in October, it turns out that the next generation will not be exclusively electric: there will be high-end models equipped with a conventional engine, too.
The company also mentioned that it wants to offer a manual transmission in more 911 models, which is great news for enthusiasts. However, it remains to be seen whether future 718s will follow suit.
Upcoming Large VUS Won’t Be Electric
In yet another twist, the future large SUV set to slot above the mid-sized Cayenne will not launch with an electric powertrain after all. Rather, Porsche plans to offer ICE and plug-in hybrid options, which makes more sense. Timing has yet to be determined, mind you.
Furthermore, conventionally powered vehicles will remain available for longer than expected. For example, the Panamera and Cayenne will retain their ICE and plug-in hybrid variants until the 2030s, including their next generation.
This summer, Porsche also announced that a compact SUV replacing the Macan and sporting an all-new design will debut by 2028. It will offer combustion and hybrid powertrain options.
Delayed EVs and Platform
Porsche said last week that the launch of certain EVs will take place at a later date, without specifying. In addition, the development of a new platform for EVs in the 2030s is being “rescheduled” and will be redesigned in coordination with other Volkswagen Group brands.
As for the Cayenne Electric, an official debut is still expected to take place before the end of 2025. This model will be sold alongside the gasoline and hybrid Cayennes currently on the market.
The Volkswagen Group anticipates the changes to Porsche’s EV plans and other charges to negatively impact the overall group's operating results by 5.1 billion euros ($8.3 billion CAD) in the 2025 financial year.