Tidio Live Chat Software - Add Tidio live chat software to your website in minutes. Contact visitors and turn them into happy customers. Enhance their experience and boost your sales. Get it for Free

Must Read

German automobile manufacturer Porsche sees potential and profitability in electric vehicles.

Lutz Meschke, Porsche’s chief financial officer, sees more potential to raise the prices of EVs than its combustion engine models. He believes the EV margins will reach parity with those of combustion vehicles in just two years. Meschke says customers are willing to pay more for new technology.

Also Read

The Volkswagen Group-owned sports-car maker mapped out a roadmap to grow return on sales to more than 20% in the long term, up from 16% in 2021. Porsche expects eight in 10 cars sold by the company by the end of this decade to run on electricity. It wants EVs to account for half the luxury automotive market in 2031.

Oliver Blume, Porsche CEO, revealed their target is to selectively expand higher-margin segments and to leverage EV pricing opportunities. Moreover, Porsche is pursuing an IPO at a time when the state of the industry is uncertain. Blume said automakers are posting high returns because supply-chain shocks are constraining output. This leaves them with no choice but to focus on the most lucrative models and raise their prices. In electrifying its lineup, Porsche is currently ahead of its competitors, Ferrari and Aston Martin.

Elegant Themes - The most popular WordPress theme in the world and the ultimate WordPress Page Builder. Get a 30-day money-back guarantee. Get it for Free

But Porsche produces fewer EVs than Tesla. Blume shared that a more meaningful EV ramp-up will take overhauling factories, retraining staff, and securing increasingly scarce raw materials for batteries. In regards to pricing, he said it’s unclear what happens with pricing power once EVs are not so fashionable. The car manufacturer is also planning a new electric luxury SUV with a starting price of around $84,800, but no launch date has been shared as of yet. It should be noted that the Macan has been delayed and will hit the showrooms no sooner than 2024. There are some software issues at the VW’s Cariad unit.

Save up to 60% on OptinMonster

Stay updated

Subscribe to our newsletter and never miss an update on the latest tech, gaming, startup, how to guide, deals and more.

- Advertisement -
- Advertisement -

Latest

Grow Your Business

Place your brand in front of tech-savvy audience. Partner with us to build brand awareness, increase website traffic, generate qualified leads, and grow your business.

- Advertisement -

Grow Your Business

Get these business solutions, tools and services to help your business grow.
Elementor

Elementor -Join 5,000,000+ Professionals Who Build Better Sites With Elementor. Build your website with 100% visual design that loads faster and speeds up the process of building them.

WP Rocket

WP Rocket - Speed up your website with the most powerful caching plugin in the world. The website speed increase means better SEO ranking, user experience, and conversation. It’s a fact that Google loves a fast site.

Kinsta

Kinsta - If you are looking for WordPress managed hosting, Kinsta is in the leading front. Kinsta provides WordPress hosting for a small or large business that helps take care of all your needs regarding your website with cutting-edge technology.

OptinMonster

OptinMonster - Instantly boost leads and grow revenue with the #1 most powerful conversion optimization toolkit in the world. 700,000+ websites are using OptinMonster to turn their traffic into leads, subscribers, and sales.

Related

- Advertisement -
- Advertisement -