Porsche makes major move with new vehicles after significant sales slowdown: 'It is difficult'

Porsche has altered its plans to produce new vehicles with solely battery electric powertrains.

What's happening?

The automaker had a goal to sell 80% electric vehicles by 2030, but "it looks like Porsche is backtracking on more EV initiatives," Electrek reported. It will produce these new vehicles in gas-powered and hybrid versions because of "a slowdown in the BEV transition," CFO Lutz Meschke said.

This is because of waning demand for the electric Taycan and a slow luxury BEV market in general. Taycan sales dropped 50% through the first three quarters of this year.

Porsche just launched the second-generation all-electric Macan, but the gas-powered version will remain available. The same will be true for the Panamera and Cayenne, Meschke said.

Why is this important?

Electric vehicles are an important part of the global transition from dirty to clean energy sources. Burning gas contributes to heat-trapping pollution in the atmosphere that drives the warming of the planet and resulting stressors on human, animal, and plant life.

Solar power, on the other hand, is low-carbon and far cheaper than traditional electricity. Even when considering manufacturing and battery production, EVs are much better for us and the planet than gas-powered vehicles.

Watch now: Honda reveals how it's rethinking electric vehicles from the ground up with exciting new concept cars

In the comment section of the article, readers wondered why drivers preferred internal combustion engines in high-performance vehicles, speculating it was because of the "feel and sound." But they also compared that to "adding hoof sounds to a Model T."

The users noted EVs are quicker and quieter than their counterparts — and the future of driving technology.

"I suppose they are trying to anticipate the market, which is something all businesses must do, but if they are a performance vehicle company, it is difficult to out perform an EV," one commenter wrote. "Look at the M3 Performance and the EV6 GT. In certain metrics, they defeat Ferraris."

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What's being done about the EV transition?

Part of Porsche's problem is a slowdown in sales in China, which has a burgeoning EV market with cheap options; one of the criticisms of EVs is that they are more expensive than gas-powered vehicles. But the plan to double down on the old school rather than invest in the new seems foolish, as other commenters pointed out.

Switching to an EV can save you $1,500 every year on gas and maintenance, and U.S. buyers can score a $7,500 tax credit. Some states have similar incentives, too.