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Luxury automaker Porsche reverses EV strategy amid weak China demand
Porsche is pulling back from its electric vehicle plans, thanks to weak demand in China amid a frenzy in a crowded market that has erased almost two-thirds of its stock value since May 2023. The luxur...
1 min
Volkswagen expects a $5.9 billion hit to its operating profit in 2025
Porsche, a German automaker, has announced the delay of its electric car rollout, citing slowed market demand. The automaker has shifted its focus now to combustion and hybrid models, with a billion-d...
1 min
Porsche has abandoned its EV battery production plans
Due to a lack of volume worldwide, Porsche has abandoned its plans to produce EV batteries. With the market for electric vehicles significantly reduced, the automaker is now pivoting to cost-effective...
1 min