Automaking chiefs warned for years about effects a costly transition to electric vehicles would have on their margins. But ahead of its landmark potential listing, Porsche is telling investors it can become more profitable focusing on battery power.
The Volkswagen Group-owned sports-car maker sees more potential to raise prices of its EVs than its combustion engine models, Chief Financial Officer Lutz Meschke said during Porsche’s capital markets day early this week.
Meschke sees the manufacturer’s EV margins reaching parity with those of combustion vehicles in two years, then expanding because customers are willing to pay more for new technology.