Porsche CEO Confirms Electric 718, Taycan Will Continue
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- Michael Leiters, Porsche's CEO appointed earlier this year, confirmed in an interview with Frankfurter Allgemeine Zeitung that the electric 718 will go into production, calling it 'the best solution economically and will be a fantastic car'
- The electric Porsche 718 will share a platform with the upcoming electric Audi TT, tying the model's fate to Audi's platform commitment
- Leiters confirmed the Taycan will not be discontinued in the short term, saying Porsche instead plans to trim variants in the model line rather than retire it
- Porsche took a $6 billion writedown last year to deliberately slow its electrification strategy, despite the company's weakest markets being those where Chinese EVs dominate
- Leiters renewed calls for 'more flexibility' in EU CO2 targets, including support for e-fuels, continuing earlier CEO and broader German auto-industry lobbying against tightening regulations
- Europe is having a banner year for electrification and leading the world in EV sales growth — even ahead of China — with BEVs now the most common powertrain for new car sales in Germany
- China recently surpassed Germany to become the world's largest auto exporter, a shift the source frames as accelerating regardless of European pushback
Why it matters: Porsche is publicly committing to specific EVs while simultaneously lobbying to weaken the European regulations meant to drive EV adoption — a contradiction the source argues leaves the automaker falling further behind Chinese competitors. With Germany already displaced as the world's top auto exporter, every delay in EV execution is capital the Chinese industry is converting into market share.
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