“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)
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn.
He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe.
Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap.
AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks.
Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.
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)
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn. He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe. Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap. AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks. Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.