Porsche confirms electric Cayenne and new electric flagship
Porsche has officially confirmed plans for a fully electric Cayenne. An electric crossover positioned above the Cayenne as a new flagship is also to come alongside further developed plug-in hybrids for the remaining combustion models.
According to the manufacturer, this fourth generation of the Cayenne underscores its ambition to deliver more than 80 per cent of its new vehicles as fully electric models in 2030. However, Porsche has yet to reveal when the electric Cayenne will launch officially. According to media reports, it could hit the streets in 2026.
Porsche also confirmed its plan to expand its product portfolio upwards with a new electric crossover above the Cayenne. The new electric flagship vehicle will be based on Porsche’s SSP Sport platform. The body of the crossover model is expected to be a mix of SUV and sedan, which will be designed as a seven-seater, according to earlier reports. In the announcement, the manufacturer confirms a “completely new experience inside the vehicle,” automated driving functions, as well as other features. “We are thereby underlining and strengthening our sporty luxury positioning. We are observing growing profit pools in this segment, in particular in China and the US,” says Porsche CEO Oliver Blume.
Before the electric Cayenne and the new electric crossover roll off production lines, the all-electric Macan will launch in 2024, as will the all-electric 718 in the middle of the decade. Porsche is also planning a new edition of the current third-generation Cayenne before the end of the year, which will bring, among other things, three further developed plug-in hybrids with a longer range. However, there are no further details yet.
The German company also wants to earn money with the upcoming electric models. In fiscal 2022, the operating margin will rise from 16.0 to 18.0 per cent. To expand the long-term return target (then with more EVs in the portfolio), the Executive Board has launched ‘Road to 20’, an “ambitious” programme to ensure the carmaker’s 20 per cent profit goal.
“With the Road to 20, we are making Porsche even more resilient and our brand stronger than ever,” says Lutz Meschke, Deputy Chairman and Member of the Executive Board for Finance and IT. “And we’re going to take a fresh look at everything, from our product range and pricing to our cost structure. We want to increase the quality of our contribution margins and make our products even more attractive.”
Porsche delivered 309,884 vehicles in 2022, including 34,801 Taycans. Due to the limited parts availability, that was 16 per cent fewer than in 2021. Porsche generated 37.6 billion euros in sales (+13.6 per cent) and an operating profit of 6.8 billion euros (+27.4 per cent).