Porsche is a brand that has established itself in luxury and quality. They’ve been a major player in performance technology, offering their customers a top-class experience from start to end. With the changing economic circumstances being felt by car manufacturers and folk around the world, Porsche has taken a bit of a knock. With this in mind, the luxury car manufacturer has laid out a few plans for future innovations that have car enthusiasts watching closely.
Porsche’s Multi-Billion Dollar Investment
Despite a drop in sales, compared to the company’s 2019 earnings, Porsche has managed to remain in good standing while the competition seemed to be hit a bit harder. The new Porsche Taycan was nominated as “Best car to buy in 2020”, but no one could have anticipated the financial stumble COVID19 would bring. None the less, Porsche has vowed to invest a massive $15 billion into future innovative technologies over the next five years, including electrification. True to their nature, Chairman of the Executive Board at Porsche AG, Oliver Blume says they’re looking ahead in order to keep their “pioneering spirit” at the forefront of their upcoming plans.
Over the next five years, Porsche intends to place some of this investment in electromobility and digitalization. There’s been talk about experimenting with 3D printing in terms of engine pistons. Along with the manufacturers fully electric cars, Porsche has included E-hybrid models of the Panamera (featured in a recent Porsche news piece) as well as the Porsche Cayenne. This allows for improved performance compared to gas-only models and both models are significantly faster than the fuel-powered models.
The 2022 release of the Porsche Macan will be an all-electric version and is set to compete with the BMW iX3. Sustainability remains of top priority to the company, which will certainly ensure they remain competitive against other luxury sports car manufacturers fighting to see their way through the global pandemic.
While Porsche’s initial 2020 projected return was lower than expected as far as the release of the new Porsche Taycan, they continue to focus on their future output without sacrificing their sustainability targets. Car enthusiasts can look forward to a few industry-changing technologies that are sure to impress on a global level over the coming years. We’ll be watching intently as they forge ahead.
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