Porsche will invest 15 billion euros in new technologies by 2025August 2, 2020
Over the next few years, the German automaker will invest billions in new technologies.
When Porsche reported its second-quarter U.S. sales a couple of weeks ago, no one was surprised to see a nearly 20 percent drop in retail shipments compared to the same period last year, proving that no brand was fully immune from the effects of the global pandemic. … There is both good and bad news in the company’s latest 1H financials.
Although global sales revenue fell 7.3% from 2019 and profit margins fell 26.3%, Porsche said it performed well compared to competitors and has ambitious plans for the near future with significant investment in innovative technologies and technologies of electrification.
“We stand for vision and set new standards. It is this spirit of innovation that inspires us. We are investing 15 billion euros over the next five years in new technologies alone, ”said Oliver Blum, Chairman of the Management Board of Porsche AG, adding that the brand is already experimenting with 3D printing to create engine pistons.
Porsche has expanded the Taycan lineup this year by adding a cheaper rear-wheel drive model. The all-electric version of the Macan is expected to launch in 2022 as a competitor to the new BMW iX3. Apart from its all-electric vehicles, Porsche has raised the bar with hybrid versions of the Panamera and Cayenne. Both models are faster than their fuel-powered counterparts, which used to be the benchmark for performance.
While Porsche has admitted that it has ditched its original target of 15% ROI in 2020, some positive results have been sounded. In the first half of the year, 4,480 Taycans were sold globally, despite the forced suspension of Porsche dealerships for several weeks. In addition, 16,919 new Porsche 911s were delivered.
With or without a pandemic, Porsche has made it clear that growing electrification within its range and introducing innovative technologies over the next fifty years is the German company’s top priority. Maybe an all-electric 911 isn’t as far off as we think.
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