Luxury sports car maker Porsche AG has set more ambitious sales targets for its electric vehicles.
Porsche AG Chief Executive Oliver Blume at the group's annual press conference said they are targeting more than 80 percent of newly sold Porsche vehicles to be fully electric by 2030.
That target previously applied to Porsche's overall electrified model, which also includes plug-in hybrids.
“Porsche AG is also maintaining its long-term target of a minimum operating margin of 15 percent,” said chief financial officer Lutz Meschke.
Volkswagen and major shareholder Porsche SE reached a framework agreement for a potential partial listing of Porsche AG.
The listing will include listing up to 25 percent of Porsche AG's preferred stock, selling 25 percent plus 1 common share in the automaker to Porsche SE and paying 49 percent of the IPO proceeds to Volkswagen shareholders as a special dividend.