Porsche Expecting 80% of its Sales in India from EVs

Porsche AG, a German luxury sports car maker, expects fully electrified vehicles to account for roughly 80% of its sales in India by 2030 and is planning three such new vehicles to be introduced here early next year, according to a senior company official on August 22.

Porsche AG Executive Board Member for Sales and Marketing Detlev von Platen said in an interview that the company, which sells a range of luxury sports cars and SUVs priced between Rs 88 lakh and Rs 4.26 crore, is targeting GenZ customers, start-up entrepreneurs, and women as it seeks to strengthen brand presence in India.

Porsche, however, has no plans in the short to medium term to locally assemble its vehicles in India, as it is focusing on establishing and strengthening the brand in India.

"We announced that we want to be net carbon neutral by 2030. So, coming from a car manufacturer, which is more sporty-oriented, it was interesting to hear (that). By 2025, 50 per cent of our cars will be electrified, and by 2030, we expect close to 80 per cent of our cars to be fully battery electrified," he said.

When asked if the global targets were also applicable for India or if they could be different, he said that the transition from ICE (internal combustion engine) to electromobility is happening at different speeds across the company's global markets, with some regions moving faster than others, but "in the big scheme for Porsche, it will also apply to India."

He stated that the adoption of electric vehicles in India has been encouraging, giving the company confidence in the segment.