Porsche plans to invest more than €20 billion (R409 billion) in the coming years to equip its models, including the new Cayenne SUV, with cutting-edge electric and digital technology.
- The company aims to shift towards battery technology while maintaining strong profit margins, targeting returns of over 20% in the long term.
- Porsche, a subsidiary of Volkswagen, is taking measures to enhance its independence and improve profitability, implementing various initiatives from developing its own software to advancing high-performance batteries.
- CEO Oliver Blume has appointed former Mercedes-Benz technology chief, Sajjad Khan, to oversee Porsche’s software efforts and is actively hiring over a thousand experts in electrification and technology.
- Porsche has entered partnerships with Mobileye Global for autonomous driving technology and has taken control of Cellforce, a venture focusing on high-performance battery cells.
- While Porsche’s first electric car, the Taycan, has been successful, there are currently no plans to introduce a plug-in option for their iconic and lucrative 911 model.