A year ago, Oliver Blume lauded his decision to approve the Taycan electric saloon for production at his first ever supervisory board meeting as Porsche CEO back in 2015.
“We were talking about billions in investment. It required a lot of courage,” he recalled.
A decade after that meeting, however, Porsche is having to backtrack on its electric ambitions after a grim year: Taycan sales plummeted 49%, demand in China fell 28% and the company's share price tumbled 53% from its 2023 peak.
