Porsche to Sell EVs before IPO to Boost Profits
Porsche to Sell EVs before IPO to Boost Profits

Porsche to Sell EVs before IPO to Boost Profits

25 july, 20221 minute to read
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Before the potential listing, Porsche plans to boost its profits by focusing on battery power.

The car maker sees more potential to raise prices of its EVs rather than traditional combustion engine models, CFO Lutz Meschke said during Porsche’s capital markets day.

According to Meschke, the manufacturer’s EV margins will reach parity with those of combustion vehicles in two years, then expanding because customers are willing to pay more for new technology.

Our target is to selectively expand higher-margin segments and to leverage electric vehicle pricing opportunities,

Porsche CEO Oliver Blume said.

By the end of this decade, eight in 10 Porsches sold are expected to run on electricity, while EVs will account for half of the luxury automotive market in 2031.

25 july, 2022
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