Porsche does U-turn on electric vehicles, will focus on gas engines

Porsche had bet on electrification in the wake of Volkswagen Group’s Dieselgate emissions cheating scandal but had been “too bullish,” said Metzler Research analyst Pal Skirta.

The sports-car maker’s challenges have been compounded by its struggles in China and the US, its two most important markets. In China, previously boasting strong growth and healthy profits, sales slumped by almost 40 percent between 2022 and 2024 as local rivals emerged.

In the US, new tariffs…