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Porsche’s EV Targets Face Investor Pushback Over Slowdown
- Carmaker’s rivals are walking back EV rollouts as sales wane
- CEO Blume sees new electric Macan SUV bolstering sales
Photographer: Ronny Hartmann/AFP/Getty Images
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Porsche AG shareholders are calling on the luxury-car maker to ease off its electric-vehicle push as a global slowdown for the technology threatens sales and profits.
At the company’s annual shareholder meeting on Friday, Chief Executive Officer Oliver Blume was asked why he’s sticking with a goal for plug-in Porsches to account for more than half of sales next year. Rivals including Mercedes-Benz Group AG are walking back their EV ambitions due to poor demand.