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June 22, 2025 1 min

Porsche is the latest company to cancel plans to take much of its line-up
electric by the end of the decade. At a recent Annual General Meeting with
investors the German sports car maker said, “it would be a significantly
longer transition phase globally, on the journey to electric mobility.” The
slower than expected transition putting pressure on the company’s bottom
line. According to Porsche CEO, Dr. Oliver Blume, “the world has changed
– we are experiencing a fierce storm, in challenging times we are
continuing to develop Porsche with a precise focus.” Previously
announcing that most of its models would join its Macan SUV with electric
powertrains Porsche is now making major changes. But the change of plan
will come at a cost, the company confirming it will cut around 3,900 jobs by
2029 in order to save money in the long term.

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Speaker 1 (00:00):
T GB Motor Talk with David Berthon, brought to you
by the Royal Automobile Club, Australia's premiere motoring club.

Speaker 2 (00:08):
Porsche is the latest company to cancel plans to take
much of its line up electric by the end of
the decade. At a recent annual general meeting with investors,
the German sports car maker said it would be a
significantly longer transition phase globally on the journey to electric mobility.
The slower than expected transition putting pressure on the company's

(00:28):
bottom line. According to Porsche's CEO, doctor Oliver Bloom, the
world has changed. We are experiencing a fierce storm in
challenging times. We are continuing to develop, Porsche previously announcing
that most models would join the mccarne SUV with electric
power trains. Porsche is now making major changes, but the

(00:49):
change of plan will come at a cost, the company
confirming it will cut around three thousand, nine hundred jobs
by twenty twenty nine in order to save money. I'm
David Berthon,
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