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Porsche has upped its electric car targets again in the wake of strong performance – in 2030 it is planning to for 80% of its sales to be electric-only.

The Stuttgart-based automaker delivered more than 300,000 vehicles in the 2021 financial year – an increase of 11% compared to 2020. What’s more, almost 40% of those vehicles were at least partly electrified.

Porsche is also planning to be carbon-neutral on its balance sheet by 2030. 

“Our positive business result is based on courageous, innovative and forward-looking decisions,” said Oliver Blume, Chairman of the Executive Board at the company’s annual press conference.

“Our industry is experiencing what is probably the greatest transformation in its history. We set a strategic course early on and are robust on the operational front. This success is teamwork.”

In fact, Porsche’s ambitious electrification growth saw sales of the all-electric Taycan saloon overtake those of the iconic 911 sports car.

Taycan sales doubled in 2021 to more than 41,000 while Porsche only managed to shift 38,464 911s in the same period. 

“The Taycan is 100% a Porsche and inspires all kinds of people – existing and new customers, experts and the trade media, said Blume.

“We are stepping up our electric offensive with another model: By the middle of the decade, we want to offer our mid-engine 718 sports car exclusively in an all-electric form.”

To help support its electrification, Porsche is using its investment arm to help grow complementary startups. 

Battery systems and module production, for example, are areas that Porsche is studying with focus and, in its newly founded Cellforce Group, the automaker is hoping to have high-performance battery cells rolling off the production line by 2024.

Porsche is also investing in premium charging stations together with its partners – as well as building its own charging infrastructure.

“Strategically, operationally and financially, Porsche is in an excellent position. We are therefore looking to the future with confidence – and welcome the consideration of an IPO of Porsche AG. This would allow Porsche to raise its profile and increase its entrepreneurial freedom. At the same time, Volkswagen and Porsche could continue to benefit from joint synergies in the future,” CFO Lutz Meschke told journalists.

All told, the future certainly seems bright for Porsche.

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