When Toyota Chairman Akio Toyoda claimed, “No matter how much progress (battery) EVs make, I think they will still only have a 30 percent market share,” many thought his defiant odometer was simply showing a high mileage obstinance to a technological inevitability. But recently, during its Q3 earnings call, we discovered that Porsche’s CFO and Executive Chairman Lutz Meschke is beginning to steer the sports car company slightly away from the slowing EV wave and back towards the ICE age.
“We see a slowdown in the BEV transition,” says Porsche Chairman
Responding to a question regarding the transition to EVs, Meschke said:
And in the rest of the world in the states and in Europe, we see, yes, a slowdown in the BEV transition. And the customer demand is, yes, not satisfying overall. And a lot of customers, first of all, in the premium and luxury segment are looking in the direction of combustion engine cars.
There’s a clear trend right now in this direction. First of all, when it comes to luxury cars. And of course, we have to find the right answer on this situation, and therefore, we will react also in our product cycle. We will refresh also our combustion engine cars. For instance, the Panamera and the Cayenne.
Porsche is ready to be flexible with its lineup
Meschke went on to say that the German carmaker will rely on plug-in hybrids and electrified cars to balance increasing environmental emissions requirements and customer demand for an engaging driving experience, saying:
And when it comes to research and development, then you will see also flexibility in the upcoming years in the direction that we will develop also new combustion engine derivatives in order to give the right answer to the customer demand in the different regions.
Porsche’s ability to produce EVs, PHEVs, and ICE-powered vehicles all on the same production line allows it to redirect and pivot according to the needs and desires of its customer base.
Which way is Porsche headed?
Though the future is never certain, it seems that with the recent successes of both the exclusively manual-transmission 911 Carrera T, and the perpetually driver-centric GT3, many of Porsche’s customers prefer engagement over economy. Porsche is, after all, a luxury car by definition. So, it isn’t surprising that saving money on fuel isn’t high on the list of priorities for those who can afford to shop for a new 911, but a visceral spine-tingling driving experience is.
While the Taycan is an innovative, performance-oriented EV, we may see more hybrid setups augmenting Porsche’s iconic ICE models. This way, the German carmaker can maintain satisfactory emissions levels while still providing the wail of a flat-6 screaming to an 8,000 rpm redline, bringing smiles to both environmentalists and enthusiasts alike.
