More than 80 percent of vehicles sold by the German automobile manufacturer Porsche will be electric by the end of this decade says the company’s chief executive Oliver Blume.
The vehicle models will include both fully electric and hybrid variants and Porsche will continue to offer its 911 model with internal combustion engines, even though it is capable of handling synthetic fuels. The automaker’s current flagship electric vehicle is the Taycan which it unveiled in 2019.
Earlier, Porsche had stated that it is expecting to make half of its car production to be completely electric within five years. By 2025, Porsche will invest about $18.07 billion in the electrification of its vehicles. The company’s electric model Taycan, which starts at the price of $96,295 had shipped more than 20,000 units to customers in 2020.
The German automaker has also announced that it is setting up an assembly plant in Malaysia as it is planning to make the nation its south-east Asian nucleus, as per sources related to the company.
Porsche will join with Inokom, a unit of Sime Darby a Malaysian trading conglomerate, in the venture, which will be located in the northern state of Kedah. The unit will be the automaker’s first assembly plant outside Germany.
The current move by Porsche will offer a much-needed boost to Malaysia, which has lagged behind Indonesia and Thailand in securing big investments by global automobile companies.
The deputy director of corporate communications of Porsche, Christian Weiss stated that South-east Asia has great capacity and the company is continuously examining options for further growth in this market.