Porsche AG sets goals for more ambitious electric vehicles

Frankfurt — Luxury sports car maker Porsche AG set a more ambitious sales target for electric vehicles on Friday as pro-Volkswagen could be listed on the partial stock market later this year.

Oliver Blume, CEO of Porsche AG, said at the Group’s annual press conference that more than 80% of newly sold Porsche cars will be fully electric in 2030.

That goal was previously applied to all Porsche electric models, including plug-in hybrids.

Porsche AG also adhered to its long-term goal of operating profit of at least 15%, said Lutz Meschke, Chief Financial Officer.

Volkswagen and its largest shareholder, Porsche SE, have reached a framework agreement on the possibility of a partial listing of Porsche AG. This could bring the value of the sector up to 90 billion euros.

For such listings, up to 25% of Porsche AG’s preferred stock will be listed, in addition to 25%, one common stock of the automaker will be sold to Porsche SE, and 49% of IPO revenue will be a special dividend for Volkswagen. Includes paying to shareholders of.

By Christoph Steitz and Ilona Wissenbach