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Porsche aims for electric versions of all its models by 2030

Jill Petzinger
Jill Petzinger, Germany Correspondent, Yahoo Finance UK
A new Porsche 718 Cayman T is displayed at the 89th Geneva International Motor Show in Geneva, Switzerland. Photo: Reuters/Denis Balibouse

Porsche will have electrified more than half of its entire model range — either with a plug-in hybrid or a fully battery-electric option — by 2025, the company said Friday. The German automaker plans to electrify every model by 2030.

“One thing is clear: From 2030 onward, there probably won’t be any vehicle model from Porsche without an electric variant,” Lutz Meschke, deputy chairman of the executive board, said at the company’s annual press conference on Friday.

Porsche will not stop making internal combustion engine cars over the next decade, but has committed to investing more than €6bn (£5.1bn, $6.8bn) into its electrification shift by 2022. The automaker stopped producing diesel vehicles in 2018.

“Since 2012, our workforce has more than doubled, and electromobility is another job engine,” Porsche CEO Oliver Blume said. “We are creating 1,500 new jobs for the Taycan alone.”

That stands in contrast to Porsche’s owner Volkswagen, which announced this week that it would need to cut thousands of jobs in Germany as making e-cars requires fewer workers than putting together an internal combustion engine car.

READ MORE: Volkswagen says making electric cars will lead to job cuts

The Taycan is set to launch at the end of this year and will be the first fully-electric car from Porsche. Expressions of interest in pre-ordering the Taycan have already shot past 20,000, the car’s original production target. Porsche did not officially state what the new, increased production figure will be. 

Porsche announced this year that its bestselling Macan SUV, which sold over 86,000 globally in 2018, will also go electric. Porsche confirmed on Friday that the fully electric Cross Turismo SUV will be out starting in 2020.

READ MORE: Porsche reveals its bestselling Macan SUV is going electric