“We are stepping up our electric offensive…”
In a financial results release from Stuttgart-based sports car manufacturer Porsche this morning, the German automaker attempted to calm the war-roiled capital markets. “Porsche is looking at the armed conflict in Ukraine with great concern and dismay,” said Oliver Blume, Chairman of the Executive Board of Porsche AG.
“We continue to hope for a cessation of hostilities and a return to diplomacy. The safety and integrity of the people are paramount. To help people in need in Ukraine, Porsche AG has donated a total of €1 million. Experts are continuously determining the degree of impact on Porsche’s business activities in a task force. The supply chains for Porsche plants have been affected, which means that on-schedule production is no longer possible in some cases,” revealed Blume. (Putin’s War Clouds BMW Group Media Day)
CFO Lutz Meschke added: “”We have challenging months ahead of us, both economically and politically, but we are nevertheless sticking to our strategic goal, which has been firmly anchored for years, of ensuring an operating return on sales of at least 15% in the long term. Our task force has already taken initial measures to safeguard our earnings. In this way, we want to ensure that we can continue to meet our high earnings targets. The extent to which this succeeds also depends on external challenges that we cannot influence. Internally, however, Porsche has created all the conditions for a successful business model: Strategically, operationally and financially, Porsche is in an excellent position. We are therefore looking to the future with confidence – and welcome the consideration of an IPO of Porsche AG. This would allow Porsche to raise its profile and increase its entrepreneurial freedom. At the same time, Volkswagen and Porsche could continue to benefit from joint synergies in the future.”
During 2021, Porsche delivered a record 301,915 vehicles to customers worldwide (previous year: 272,162 deliveries). The bestselling models were the Macan (88,362) and the Cayenne (83,071). Delivery figures for the Taycan more than doubled: 41,296 customers took delivery of the first all-electric Porsche. This overtook the 911 sports car, although the latter also set a new record with 38,464 units. Oliver Blume: “We are stepping up our electric offensive with another model: By the middle of the decade, we want to offer our mid-engine 718 sports car exclusively in an all-electric form.” Once again, the highest-volume individual market was China, another totalitarian, communist state. With ~96,000 deliveries, an increase of eight percent was recorded there compared to 2020. (AutoInformed: Porsche Expanding R&D in China)
During 2021 ~40% of all new Porsche vehicles delivered in Europe were already at least partly electric including old-technology hybrids. Porsche had announced its intention to be carbon-neutral on the balance sheet in 2030. “In 2025, half of all new Porsche sales are expected to come from the sale of electric vehicles – i.e. all-electric or plug-in hybrid,” announced Oliver Blume. “In 2030, the share of all new vehicles with an all-electric drive should be more than 80%.” To achieve these ambitious goals, Porsche is investing in premium charging stations together with partners, as well as in its own charging infrastructure. Further investments are flowing into core technologies such as battery systems and module production. In the newly founded Cellforce Group, high-performance battery cells are being developed and produced that are expected to be ready for series production by 2024. (AutoInformed: Porsche Customcells JV adds Cellforce on Manufacturing Lithium Ion Batteries as the P3 Group Leaves)
Porsche 2030 – More Than 80% All-Electric New Vehicles
“We are stepping up our electric offensive…”
In a financial results release from Stuttgart-based sports car manufacturer Porsche this morning, the German automaker attempted to calm the war-roiled capital markets. “Porsche is looking at the armed conflict in Ukraine with great concern and dismay,” said Oliver Blume, Chairman of the Executive Board of Porsche AG.
“We continue to hope for a cessation of hostilities and a return to diplomacy. The safety and integrity of the people are paramount. To help people in need in Ukraine, Porsche AG has donated a total of €1 million. Experts are continuously determining the degree of impact on Porsche’s business activities in a task force. The supply chains for Porsche plants have been affected, which means that on-schedule production is no longer possible in some cases,” revealed Blume. (Putin’s War Clouds BMW Group Media Day)
CFO Lutz Meschke added: “”We have challenging months ahead of us, both economically and politically, but we are nevertheless sticking to our strategic goal, which has been firmly anchored for years, of ensuring an operating return on sales of at least 15% in the long term. Our task force has already taken initial measures to safeguard our earnings. In this way, we want to ensure that we can continue to meet our high earnings targets. The extent to which this succeeds also depends on external challenges that we cannot influence. Internally, however, Porsche has created all the conditions for a successful business model: Strategically, operationally and financially, Porsche is in an excellent position. We are therefore looking to the future with confidence – and welcome the consideration of an IPO of Porsche AG. This would allow Porsche to raise its profile and increase its entrepreneurial freedom. At the same time, Volkswagen and Porsche could continue to benefit from joint synergies in the future.”
During 2021, Porsche delivered a record 301,915 vehicles to customers worldwide (previous year: 272,162 deliveries). The bestselling models were the Macan (88,362) and the Cayenne (83,071). Delivery figures for the Taycan more than doubled: 41,296 customers took delivery of the first all-electric Porsche. This overtook the 911 sports car, although the latter also set a new record with 38,464 units. Oliver Blume: “We are stepping up our electric offensive with another model: By the middle of the decade, we want to offer our mid-engine 718 sports car exclusively in an all-electric form.” Once again, the highest-volume individual market was China, another totalitarian, communist state. With ~96,000 deliveries, an increase of eight percent was recorded there compared to 2020. (AutoInformed: Porsche Expanding R&D in China)
During 2021 ~40% of all new Porsche vehicles delivered in Europe were already at least partly electric including old-technology hybrids. Porsche had announced its intention to be carbon-neutral on the balance sheet in 2030. “In 2025, half of all new Porsche sales are expected to come from the sale of electric vehicles – i.e. all-electric or plug-in hybrid,” announced Oliver Blume. “In 2030, the share of all new vehicles with an all-electric drive should be more than 80%.” To achieve these ambitious goals, Porsche is investing in premium charging stations together with partners, as well as in its own charging infrastructure. Further investments are flowing into core technologies such as battery systems and module production. In the newly founded Cellforce Group, high-performance battery cells are being developed and produced that are expected to be ready for series production by 2024. (AutoInformed: Porsche Customcells JV adds Cellforce on Manufacturing Lithium Ion Batteries as the P3 Group Leaves)