Yet another big name in automaker is pulling back on its EV plans, blaming slower than expected demand for electric vehicles. Volkswagen’s luxury sports car brand, Porsche, has announced that it no longer plans to build EV batteries in-house.
Cellforce, Porsche’s high-performance EV battery company, will shrink and only focus on research and development, rather than production. In a statement, Porsche blamed “the slower ramp-up” of EVs and “challenging market conditions” in its biggest markets, the US and China, for the changes.
Porsche plans to continue offering internal combustion engine (ICE), hybrid, and all-electric options across every segment “well into the 2030s.”
Source: Electrek: Read The Article
PSR Analysis: While this is another example of how car manufacturers are slowing their plans for the EV revolution, we need to be clear, this is just about Porsche not manufacturing batteries, and it could be argued that the scale Porche would obtain (versus costs) would not make sense economically. They, like many other manufacturers, cannot compete in the battery manufacturing zone, with Chinese battery manufacturers. PSR
Guy Youngs is Forecast & Adoption Lead at Power Systems Research
