Porsche Confirms New (Maybe Bigger) All-Electric SUV is Coming


At the Capital Markets Day event, Porsche confirmed that their SUV line-up will be expanded as they plan to launch a new all-electric SUV.

“This will further expand our position in the luxury automotive segment. We are targeting the higher margin segments in particular and aim to tap into new sales opportunities in this way,” said CEO Oliver Blume in the press statement.

About twenty years ago, critics pooh-poohed at the idea of the ultra-luxury car maker producing something as plebeian as an SUV. Twenty years later, Porsche has sold over a million units of the Cayenne and just about every other luxury car brand is following suit.

The company believes that the luxury car market will experience robust growth in the coming years, with battery electric vehicles and SUVs driving it. So, the new model will be both, and also help the company sell 80% EVs by 2030, as is the plan. It will likely sit above the Cayenne in the line-up since it will target the “higher margin segments”.

Although Porsche is competing in the luxury segment, they are positioned to benefit from these trends, if they turn out to be right, being a leader for luxury SUVs and benefitting from economies of scale.

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There is no further detail except that it will be made on the company’s Leipzig production line where the Macan SUV is also manufactured. Automotive News reported that Porsche had shown designs of an unidentified SUV to dealers late last year and it was described as “wider and larger” than the Cayenne and one person described it as “rakish”.

If you are eager to upgrade from your Macan or Cayenne, don’t expect the (possibly) bigger SUV to be coming soon as Porsche plans to launch it only at the end of the 2020s.

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