Porsche has confirmed that it will make a new electric SUV that will sit on top of the Cayenne. The production plan of this electric SUV is expected to take advantage of the success of the Taycan which was launched earlier.
This confirmation was revealed on the Porsche capital market day in Weissach, Germany. Porsche made a presentation to attract investors prior to the German manufacturer’s initial public offering.
We plan to add a new luxury, all-electric SUV model to our attractive portfolio, which will roll off the production line in Leipzig. This will further expand our position in the luxury automotive segment. We are targeting the higher margin segments in particular and aim to tap into new sales opportunities in this way”. said Oliver Blume, Porsche CEO
Blume describes their latest EV as a very sporty SUV with relatively high ground clearance.
The electric SUV is codenamed K1 and will be produced at a production facility in Leipzig from the mid-20s. Porsche will use technology from the Porsche Mission R, including an oil-cooled electric motor.
The race car concept debuted last year with up to 1,073 hp (800 kW / 1,088 PS), and a 920 volt architecture. The use of the 920 volt architecture allows for fast charging.
Previous rumors said Porsche’s electric SUV would be coming in the second half of the decade with a three-row cabin layout, something that has yet to be confirmed.
The Porsche Taycan, which is the German manufacturer’s first EV, has already outperformed the sales of the 911. Porsche is preparing to add to its electric vehicle portfolio with a target of 80 percent EV sales by 2030.