Porsche Sees EV Potential, CFO: Buyers Are Willing To Pay More For New Technology

Porsche sees EVs to be more profitable (photo: Unsplash)

JAKARTA - If several automotive companies are intensively creating electric vehicles (EVs) at lower prices, it seems that Porsche is looking in a different direction.

According to a report from Bloomberg cited by The Drive, Porsche is actually looking to raise the price of EVs more than any other combustion car model.

Based on Porsche capital markets earlier this week, Chief Financial Officer Lutz Meschke sees the manufacturer's EV margins reaching parity with combustion vehicles in two years, and customers are willing to pay more for new, more advanced technology.

The sports car maker plans to increase its return on sales by more than 20 percent in the long term. Management also estimates that eight out of ten Porsches sold by the end of the decade will be electric.

As such, they predict that EVs will account for half of the luxury auto market by 2031.

“Our target is to selectively expand the higher margin segment and take advantage of the price opportunities of electric vehicles,” said Porsche CEO Oliver Blume.

On the other hand, Porsche CEO Oliver Blume confirmed that they will be adding a new all-electric crossover car to its lineup.

The new electric SUV will be placed above the successful Macan and Cayenne crossovers in the Porsche lineup. This new crossover is even likely to bring in some sweet, sweet cash from the previous two variants.

The company also confirmed that the new EV crossover will incorporate some of the technology from Porsche's cool Mission R concept.

Last weekend, Volkswagen's CEO saw Herbert Diess resign, and current Porsche boss Blume is rumored to be replacing him from September 1.