Porsche confirms first electric two-seater will be 718, not 911

The first two-seat electric Porsche will be a 718, executives confirmed in a video call with reporters.

A hybrid version of the porsche 911said Thursday Oliver Blumeexecutive director of Porsche AG. But he didn’t specify when production would begin — that it would use integrated technology rather than plug-in hybrid. They also did not answer the question of how many variants of the 911 could go the hybrid route.

The 911, Porsche’s crown jewel for 58 years, includes a wide range of variants, from the entry-level $101,200 Carrera to high-performance Turbo S versions costing more than $200,000.

The news comes after Volkswagen AG said on February 22 that it is preparing an initial public offering of Porsche, its most profitable asset, to help finance the production of additional electric vehicles.

Blume and the financial director of porsche, Lutz Meschke, have adamantly declined to comment on the possible IPO, which could value the company at up to 90 billion euros ($99.7 billion), according to Bloomberg Intelligence. The IPO could happen in the second half of this year.

Porsche has dropped hints of an electric vehicle 718 Boxster/Cayman style since he introduced the Mission R at the car show Munich last year, but this was the first time executives had confirmed speculation about a new electric sports car, which will be its third electric model. Porsche began delivering the Taycan electric sedan in 2020, with an all-electric Macan expected in 2023.

By 2025, half of all new Porsches sold will be fully electric or plug-in hybrids, Blume said. By 2030, 80% of all Porsches will be fully electric, he said. In 2021, less than 40% of all new Porsches delivered in Europe were plug-in hybrids or fully electric.

Sales of taycanwhich starts at $82,700, have been shot. Last year, the company delivered 41,296 units worldwide, surpassing the sales of the legendary 911, which reached a record of 38,464 units.

In total, Porsche delivered 301,915 vehicles to customers in 2021, an increase of 11% from the 272,162 delivered in 2020, and the first time it has surpassed the 300,000 mark.

Deliveries increased in all global sales regions in 2021, led by China with more than 95,000 deliveriesa 7.5% more than in 2020. Porsche also grew rapidly in United Stateswhere sales increased by 22% To over 70,000 units. On GermanyPorsche increased deliveries by 9.2% until almost 29,000 units.

“We see that 2021 has made it clear that we are resilient, even in times of storm”Blume said. “We have achieved good results. This has put us in a first-class position for the future.”.

Still, executives said American customers should expect significant delays across all of Porsche’s product lines in the coming months due to unexpected hurdles. In February, hundreds of Porsche cars were destroyed when a ship caught fire and sank in the Atlantic Ocean. The company has also had trouble obtaining parts from various suppliers in Ukraine since the Russian invasion.

“All model lines will be affected in the coming months”Meshke said.