Porsche delays a new electric car after the demand declines

Porsche has been late for the launch of its new electric car (EV), as the weak demand forces the German car manufacturer to focus on gasoline and diesel engines.

The company, owned by Volkswagen, said that the date of the launch to obtain the EV version of the new SUV has been canceled and the form will be sold instead as a combustion engine and a hybrid version made up of this.

Porsche said the delay was “a response to the slower growth significantly to demand the exclusive vehicles of the electric batteries.”

Because of Porsche’s move, the owner Volkswagen warned that the delays would provide 5.1 billion euros (4.4 billion pounds) to the group’s operating profit during this fiscal year.

“Today we have set the final steps in reorganizing our products strategy,” said Oliver Bloom, CEO of Porsche and Volkswagen, in a statement.

“We are currently facing huge changes within the auto environment. That is why we reorganize a Porsche in all fields.”

The release of the new domain was planned in the thirties of the twentieth century, but the luxury car maker did not provide a new time frame for launching the new EV series.

Porsche added that the current combustion engine models will remain available for a longer period.

The delays in the start of EV’s Porsche is an expensive blow to the Volkswagen.

The group, which is the largest car maker in Europe, announced that it will write the value of its shares in Porsche by 3 billion euros after the luxury auto industry company reviewed its long -term plans.

Volkswagen also said it would take 2.1 billion euros for its operating profits in this fiscal year.

“With this clear plan, we are re -calibrating the company to achieve long -term success in a world with difficult circumstances,” said Dr. Jochen Breckner, Head of Finance and Technology in Porsche.

“We realize that these strategic investments affect our short-term financial results-but they are necessary.”

The group reduced its expectations for the operational profit margins for 2025 to 2 percent to 3 pm, down from the previous expected profit margin from 4 percent to 5 percent.

Europe manufacturers in Europe are suffering from an unconfirmed environment as they face EV competition from Chinese competitors, such as BYD, and a financial blow from the tariff of the import of Donald Trump.

Mr. Bloom said that the auto industry is struggling with a “very volatile environment.”

Last week, senior cars in Europe, including Stellantis, BMW and Mercedes-Benz, met with Ursula von der Leyen to invite the European Union to the goals of emissions set by the bloc to address climate change.

The European Union is currently planning to ban the sale of new gasoline and diesel cars by 2035, but car makers have warned that the goal is not achieved.

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