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Porsche Drops EV Target Over Cooling Demand, China Slowdown
- Firm no longer commited to goal of over 80% EV sales in 2030
- Market for luxury EVs in China, elsewhere remains uncertain
German company has repeatedly emphasized its flexibility to deal with fluctuating demand.
Photographer: John Phillips/Getty ImagesThis article is for subscribers only.
Porsche AG is abandoning its electric vehicle sales ambitions over lower-than-expected momentum for plug-in models in Europe and China.
While EVs could account for more than 80% of Porsche’s new-vehicle sales in 2030, it’s no longer the company’s concrete goal, the Volkswagen AG-controlled automaker said Monday.