Porsche has revealed plans to launch a flagship electric crossover that will be positioned above the Cayenne as part of the automaker’s goal of delivering more than 80% of its new vehicles as full-electric models by 2030. The crossover, codenamed K1, will be built in Leipzig starting from the middle of the decade and will be designed to offer strong performance and automated driving functions with the typical Porsche flyline. The automaker will use Volkswagen Group’s SSP Sport platform, which Porsche is developing. Additionally, Porsche is planning to set up a new Car-IT department, headed by former Daimler digital chief Sajjad Khan, to reduce the risk of protracted software problems seen at VW’s Cariad unit. Furthermore, Porsche is set to offer full-electric versions of the 718 Boxster und Cayman in the middle of the decade and the Cayenne will receive an all-electric powertrain as early as 2025 or 2026.
Porsche is reporting a record operating return of 18% in 2022, up from 16% in 2021, with an operating profit of €6.8bn ($7.26bn). Despite slightly missing expectations, Porsche expects returns to remain at roughly last year’s record level on the back of attractive models and high prices, provided an already challenging economic backdrop does not get much worse. The brand’s operating margin is set to reach between 17% and 19% this year compared to 18% last year, with revenue expected to rise this year to as much as €42bn ($45.1bn), serving as a key profit contributor to parent Volkswagen Group.
Porsche confirmed its plans last July to launch a range-topping, full-electric flagship crossover that will be designed as “a very sporty interpretation of an SUV.” The crossover, codenamed K1, will be built in Leipzig starting from the middle of the decade and will incorporate technology seen on the Mission R concept presented in 2021 at the IAA auto show in Munich. Porsche is developing a new high-performance battery that will reduce charging times. This comes as Porsche is striving to deliver more than 80% of its new vehicles as full-electric models by 2030.
The company is also proposing a dividend of €911m following its partial listing in September, which equates to €1 per ordinary share and €1.01 per preferred share. Furthermore, Porsche has showcased an all-electric Macan crossover set to be available to customers in 2024, building on the Taycan sedan, the brand’s first battery-electric car.
Porsche’s new Car-IT department will seek to avoid problems surrounding Cariad, VW’s software unit, which has delayed several important models like Porsche’s electric Macan. The department will be headed by former Daimler digital chief Sajjad Khan. Porsches’ EV flagship will be designed as an SUV and offer strong performance and automated driving functions with the typical Porsche flyline. The all-electric Macan crossover will be the second battery-electric car after the Taycan sedan. Full-electric versions of the 718 Boxster und Cayman are also planned.
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