BERLIN (Reuters) – Luxury carmaker Porsche expects the transition to electric vehicles to take longer than expected, the company said on Monday, after previously saying it aimed for 80% of sales to be fully electric by 2030.
It has now watered down that target by explicitly linking it to customer demand and developments in the electromobility sector, saying in a statement only that it could now reach the 80% target if those factors warrant it.
“The transition to electric cars is taking longer than we thought five years ago,” Porsche said in a statement.
“Our product strategy is designed in such a way that we can deliver more than 80% of our vehicles fully electric by 2030 – depending on customer demand and the development of electromobility.”
Executives at car manufacturers from Mercedes-Benz (OTC:) to Renault (EPA:) have warned in recent months that the targets they set in recent years for all-electric sales over the next decade were too ambitious, as customers remained reluctant to switch from gas-powered cars.
Porsche, which has struggled with low EV sales so far this year, highlighted the disparity in its three main markets in terms of EV uptake, with demand well ahead in China, slower in Europe and patchy in the US.
“Our dual strategy is more important than ever,” Porsche said, referring to the ongoing development of both combustion engines and electrified cars.
