Porsche has announced changes to its EV strategy, confirming it will no longer expand its in-house battery production business.
The decision has been made because of a slower-than-expected take up of electric cars. Investment will be redirected into a broader product and software offensive.
This marks a significant shift in Porsche’s product strategy and comes just months after it secured a majority stake in V4Smart, a joint venture with German battery specialist Varta.
It also hints at a renewed focus on combustion-engined models as well as electrified derivatives of existing models, rather than an all-out expansion of dedicated EV models.
