For Porsche, the electric car is used to fill the coffers, not to save the planet

According to Porsche, it would be easier to raise the price of electric cars, thus increasing their profitability.

If the electric car is developing at a high speed today, some manufacturers still have some fear. Especially on the costs that this may entail. The training of mechanics can actually be very expensive for brands, as proven by Mercedes with its €1.3 billion training plan.

But and vice versa, this engine could also bring more money to brands. At least that’s what Porsche thinks, as stated by Lutz Meschke, Chief Financial Officer on the occasion of Capital Markets Day, an event that took place a few days ago in the center of research and development located in Weissach.

Easier to raise prices

So far, Porsche has only one electric model, the Taycan, available in several engines and body styles with the Sport Turismo station wagon and its more adventurous Cross Turismo version. However, the margin on this vehicle was soon to match that of thermomobiles of the assortment with a similarity that would be reached in two years.

According to Lutz Meschke, conveyed by our colleagues from Bloomberg, electric cars could be even more profitable over the years because it would be easier to drive up the price. According to him, customers would actually be willing to pay more to take advantage of new technologies.

If all the manufacturers do not communicate on this topic, our colleagues will leaveCar news point it out Volvo’s electric cars generated a gross margin of 15% against 21% for thermal models, while on average they are 12% more expensive to produce. Which can lead to higher margin when costs are lower. For its part, Porsche wants to increase its market share of electric models, while the brand plans to sell 80% electric cars by 2030. The manufacturer also expects this engine to represent half of the luxury car market by 2031.

It is a shame that Porsche wants to take the route of increasing profits with the switch to electric. We imagine that these declarations are not foreign to the Volkswagen Group’s proposed IPO of Porsche, which is planned for the end of the year. Indeed, it is necessary to reassure potential investors who are wary and who may pressure the German group to revise the valuation of the brand downwards, as reported by Reuters.

New electric models in preparation

As stated by Lutz Meschke, the brand’s goal is to grow in the most profitable segments and better exploit opportunities for price increases. This is especially the reason why the company is preparing to launch a brand new electric SUV, which will assume a very advanced positioning. Placed above Cayenne in the catalogue, it should particularly address the technologies of the Mission R concept and especially its 900 volt architecture. In particular, this would provide greater charging power than the Porsche Taycan, which has an 800 volt system.

But that’s not all. In fact, the company in Stuttgart is also working on the future electric Macan, the launch of which should take some delay. Porsche, like the other brands of the Volkswagen group, is also affected by software problems that punish the entire company and delay the launch of several models. Expected in 2024, it will be followed by an electric version of the 718, which will see the light of day a year later. If the brand has to ban all thermal models from its range in 2035, in accordance with the European Commission’s desire to ban the sale of these, it still believes in this engine. It continues to develop its synthetic fuel, just as Lamborghini also does.

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