Luxury Car Brand Porsche Plans a R400 B Go-Electric
The German automobile manufacturer which specialises in high-performance sports cars, SUVs and sedans, plans on spending € 20 billion (R409-billion) to equip models which include its planned new Cayenne sport utility vehicle with top-line electric and digital technology to bolster returns. The car brand is joining the battery technology, Wednesday CEO Oliver Blume said that the
Luxury Car Brand Porsche Plans a R400 B Go-Electric
The German automobile manufacturer which specialises in high-performance sports cars, SUVs and sedans, plans on spending € 20 billion (R409-billion) to equip models which include its planned new Cayenne sport utility vehicle with top-line electric and digital technology to bolster returns.
The car brand is joining the battery technology, Wednesday CEO Oliver Blume said that the company is targeting returns of more than 20% in the long term, compared to last year’s 18%.
Porsche has gained independence from Volkswagen and is now implementing dozens of measures. From building their own software to developing high-performance batteries.
“We’re taking a fresh look at everything, from the product range and pricing to the cost structure,” Blume, who also leads VW, said in a speech.
The CEO has been aware of the problems at VW’s software unit Cariad which delayed the launch of Porsche’s electric Macan.
Blume appointed Mercedes-Benz Group‘s former technology chief, Sajjad Khan who will be overseeing the company’s software efforts. The company is pushing to hire more than a thousand electrification and tech workers.
