Porsche believes it can make a big profit from selling electric vehicles

Porsche Taycan 4S - Porsche believes it can make a big profit from selling electric vehicles

Porsche Taycan 4S. (Photo: Porsche)

believes it can make a big profit from selling electric cars. In achieving maximum profit, the German sports car company relies on the electric , Porsche’s first electric car.

The sports car brand under AG sees a lot of potential to raise the price of electric cars over petrol engine cars. Porsche’s margins are also predicted to increase as consumers are willing to pay more for the new technology.

Porsche targets sales of 8 of its 10 cars by 2030 to be electric cars. Meanwhile, by 2031, the company expects electric cars to account for half of the luxury car market.

“Our goal is to selectively expand the higher margin segment and take advantage of the price opportunities of ,” said Porsche CEO Oliver Blume.

From the sports car class, Porsche is far ahead of its competitors such as Ferrari and , in marketing electric cars. Last year, the electric Porsche Taycan sold more than the Porsche 911, last year’s most popular Porsche model.

Porsche also plans to launch the next electric car in the near future. Volkswagen AG is also targeting to be one of the biggest players in the luxury electric car segment.