Porsche to launch new high-end electric SUV

Porsche's electric vehicle portfolio will grow to include a larger, more luxurious SUV to sit above the upcoming Macan EV.

Published

Porsche plans to launch a new luxury electric SUV model that will apparently target a high-margin segment.

It announced the upcoming, unnamed SUV at its latest Capital Markets Day which was held at its Research and Development Centre in Weissach, Germany.

“We plan to add a new luxury, all-electric SUV model to our attractive portfolio, which will roll off the production line in Leipzig,” said Porsche AG CEO Oliver Blume.

“This will further expand our position in the luxury automotive segment.”

“We are targeting the higher margin segments in particular and aim to tap into new sales opportunities in this way.”

Mr Blume didn’t confirm any other details about this upcoming electric SUV, but his statement suggests it could be more luxurious than the Cayenne and be positioned above it.

This new Porsche electric SUV will be built at the same production plant as the upcoming Macan EV, which is expected to be revealed in the second half of 2023.

Porsche has said it’s looking at adding this new vehicle to its existing lineup because “expert studies” expect there to be “robust growth” within the battery electric vehicle (BEV) and SUV segments in the coming years.

“We are very well positioned to benefit from these trends,” said Porsche AG CFO Lutz Meschke.

“Porsche is a leading player in the market for sporty SUVs and in the all-electric luxury car segment.”

The announcement of the new SUV should strengthen Porsche’s credentials in the burgeoning world of high-end electric vehicles ahead of the brand’s initial public offering (IPO) before the end of the year.

Although Porsche may be chasing industry trends with this upcoming electric SUV, it’ll still keep developing sports cars for enthusiasts.

As previously confirmed, Porsche plans to launch an all-electric version of the 718 Cayman and Boxster by the middle of the decade.

Looking to the future, Porsche is aiming for more than 80 per cent of its delivered cars in 2030 to be BEVs. It also hopes to have a net carbon neutral value chain in 2030.

The German automaker is anticipating its future customers will be younger and come from more diverse backgrounds. It’s also expecting the proportion of female customers to increase.

MORE: Volkswagen details Porsche IPO, will retain control

Share
Link copied!
Jack Quick

Jack Quick is an emerging automotive journalist based in Melbourne, Australia. Jack recently graduated from Deakin University and has previously competed in dance nationally. In his spare time, Jack likes to listen to hyperpop and play Forza Horizon.

Also on CarExpert