Porsche Commits To A Combustion-Powered Future

Porsche used its Annual General Meeting on Wednesday to reaffirm plans to launch more models with gas and plug-in hybrid powertrains in the years ahead, due to what the automaker described as a longer-than-expected transition to electric mobility. Discussions held outlined plans to maximize profitability in the fierce of the “fierce storm” the industry is facing, which include the brand re-aligning its electrification strategy.

Speaking during the meeting, CEO Oliver Blume said the goal is to offer the choice of gas, plug-in hybrid, and electric powertrains in all of its vehicle segments well into the 2030s. That doesn’t mean an electric 911 is in the works, as the 911’s sports car segment also includes the 718 – an electric version of which was due in 2026 but now may be pushed back to 2027 due to battery supply chain issues. But Blume did pomise the brand is going to bring something exciting to the segment, nontheless.

New Gas And Plug-In Hybrid Cars Will Expand Lineup

Porsche won’t just launch gas and electric versions of the same model for each segment – at least not in every case. The automaker specifically said it plans to expand its lineup to accommodate additional models with gas and plug-in hybrid powertrains to sell alongside models with electric powertrains.

Porsche already confirmed in March that a new SUV in the Macan segment is coming, and that it will feature a gas powertrain. This new SUV won’t be badged as a Macan, as that nameplate will soon be used exclusively for EVs. The current gas-powered Macan is scheduled to end production next year, leaving only the electric second-generation Macan with the nameplate.

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It isn’t clear what other new gas and plug-in hybrid models are planned, but another possibility is a gas-powered alternative to Porsche’s planned three-row electric SUV, currently doing the rounds under the K1 code name. Considering the K1 is being developed with the U.S. in mind – where EV demand is lower than in other markets – offering a gas-powered alternative would make sense.

In the case of the top-selling Cayenne, Porsche plans to sell both gas and electric versions alongside one another. An electric Cayenne is set for launch later this year, but the current gas (and PHEV) model will soldier on with additional major updates along the way. Porsche last year confirmed that it was developing a new V8 engine that will be offered in the Cayenne well into the next decade.

Rescaling To Avoid Profit Loss

It was only a few years ago that Porsche was targeting around 80% of sales being EVs by the end of the decade, though the automaker abandoned that target last year as the growth in EV demand started to slow – especially in the luxury sector. Instead, the automaker will now link its targets to customer demand, and right now that means more models equipped with gas engines, either as standalone units or paired with plug-in hybrid systems. This change in strategy, together with headwinds like the Trump administration’s tariffs as well as falling demand in China (down 28% in 2024), Porsche’s biggest market, means Porsche’s profitability will be affected.

The automaker, during its annual general meeting, confirmed that the change in strategy will cost it an additional 1.3 billion euros (approximately $1.5 billion) in the 2025 financial year. The automaker also reaffirmed plans announced in March to reduce its workforce by around 3,900 staff by 2029. Where possible, the cuts will be via retirements and voluntary measures, as well as the expiration of fixed-term employment contracts.

Sources: Porsche