Porsche CEO reiterates that the 911 will not be electrified; development of the 718 EV will continue, and the gasoline-powered Macan is scheduled for 2028.

Porsche AG CEO Michael Leiters gave his first interview to international media since assuming the position.

He has reportedly told the Financial Times that he thinks it's unfair to portray himself as skeptical of electric vehicles.

While acknowledging the need to revise its gasoline vehicle strategy, the company expressed a positive outlook, stating that the launch of a gasoline-engine Macan would provide customers with a balanced choice between EVs and gasoline vehicles. This indicated a policy of revamping gasoline vehicle development while simultaneously advancing EV development.

The current situation with Porsche is roughly as follows:

• In 2023, the company sold approximately 320,000 vehicles with an operating profit margin of 181 TP1T, but in 2025, sales are projected to decrease to approximately 280,000 vehicles, with a profit margin of 1.11 TP1T.
• Vehicle deliveries in China are projected to decrease by 32% in the first half of 2026.
• Porsche to close its electric bicycle, battery, and software divisions.
• Sold IT consulting business to Tata Consultancy Services.
• In early September 2026, Porsche will sell its stake in Bugatti Rimac and the Rimac Group, raising approximately 1 billion euros.
• Volkswagen recently announced a downward revision to its earnings forecast, citing a €6 billion impairment charge on its stake in Porsche AG and a slowdown in the Chinese market.

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Next, let's look at the content of the interview with the Porsche CEO that was reported in the Financial Times:

• To counter sluggish sales in China, there are plans to introduce a gasoline-engine version of the Macan SUV in 2028.
• While the engine to be used in the upcoming luxury SUV "K1" has not yet been decided, demand for gasoline-powered vehicles remains strong in the premium segment.
• Development of an electric vehicle version of the 718 sports car is continuing.
• The flagship 911 model will not be offered in an electric vehicle version.

• We are not worried about falling behind in the EV field because we can utilize Volkswagen's technology.
• It is unlikely that the costs of EVs and gasoline cars will become equivalent in the short term.
• The increasing sales of EVs will continue to lower Porsche's profit margins, it is pointed out.
• The company has reached an agreement with the labor union to cut its non-core businesses and reduce its workforce by approximately 20%, or 9,000 employees, by 2035.
• No further layoffs are planned.
• The medium-term operating profit margin target remains at 10-15%.

• The sales targets and business scale that became "excessive" during China's 20-year growth period need to be "dramatically" reduced.
• At the Capital Markets Day to be held on October 7, 2026, they plan to revise their outlook for the Chinese market and announce a plan to significantly lower Porsche's break-even point.
• China will continue to be a major challenge.
• It has been pointed out that the launch of new products in China has surged, with approximately two new products being introduced every day.
• This situation can be described as "like strangling oneself."
• I believe that industry restructuring will eventually take place, but I don't know how long that will take.

• If it weren't for differences in labor costs, energy costs, and the regulatory environment in Europe, German manufacturers could rival China in speed and cost.
• The view is that if those problems are resolved, they will be able to compete with Chinese manufacturers.
• "If a fair competitive environment is established, we have no need to fear competition."

The interview conveyed Porsche's policy of offering both gasoline and electric vehicles, with different choices for each model: the 911 will not be fully electrified, development of the 718EV will continue, and a gasoline engine model will be reintroduced to the Macan.

Including these plans, I expect Porsche will announce more detailed (or perhaps not so detailed?) future plans on October 7, 2026, so I'm looking forward to that announcement.

Source:
◆Porsche boss calls EV sceptic label 'unfair' — just don't expect an electric 911
◆Porsche CEO defends shift back to petrol amid EV concerns

Related article:
◆Porsche: An impairment loss of approximately 1.08 trillion yen and the possibility of further job cuts. And Porsche's thoughts on its move towards electric vehicles.
◆Porsche completes sale of its stake in Bugatti Rimac & Rimac Group.
◆New structure from October 2026: Porsche will reduce its global sales regions from 5 to 4.
◆Porsche AG's first-half 2026 results: Achieving further milestones in strategic restructuring.
◆Porsche to protect jobs until 2035: Future package including €2.1 billion investment and 5,000 job cuts
◆The 4th Porsche Shareholders' Meeting: The Three Pillars of Porsche's Strategy 2035

Rika (911supercars.com)

I'm Rika, the author of this article. Since I got my hands on a Porsche 911, I've been completely hooked on Porsches and I can't stop loving them, so I started this blog. My favorite cars are the 911 Carrera (2/991), 911 Carrera Cabriolet & 911 Carrera T (1/992), GT3 (1/997) and 718 Cayman GT4 RS.