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Porsche Revises EV Strategy Amidst Weak Demand, €800 Million Cost Increase
Porsche is revising its electric vehicle strategy due to weak demand and challenges in China, expecting €800 million in added costs in 2024 to develop combustion engine and plug-in hybrid vehicles, invest in batteries, and restructure; sales fell 3 percent overall, with a 28 percent drop in China.
Porsche Revises EV Strategy Amidst Weak Demand, €800 Million Cost Increase
Porsche is revising its electric vehicle strategy due to weak demand and challenges in China, expecting €800 million in added costs in 2024 to develop combustion engine and plug-in hybrid vehicles, invest in batteries, and restructure; sales fell 3 percent overall, with a 28 percent drop in China.
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