Porsche has predicted that combustion engine models will account for less than a fifth of its sales by the end of the decade, as it accelerates its shift to electric after unexpected success with its first battery-powered car.
“In 2030, the share of all new vehicles with an all-electric drive should be more than 80 per cent,” said Oliver Blume, chief executive, who added that the transition was “running faster [than Porsche] planned years ago”.
The Stuttgart-based company, which is owned by Volkswagen and is the most profitable of its parent group’s 12 brands, is preparing for a partial flotation by the last quarter of the year. VW plans to list 25 per cent of the business, which could raise roughly €20bn, although only 12.5 per cent will be available for purchase by external investors.