Latest news with #FabioHölscher
Auto Blog
20-05-2025
- Automotive
- Auto Blog
Supply Woes Continue as Porsche Pushes Back Electric Boxster/Cayman Launch Again
Porsche is facing pressure on all sides in 2025 Porsche has delayed the launch of its all-electric versions of the 718 Boxster and Cayman for the second time over difficulties sourcing the models' high-performance battery cells. In April, Porsche said drivers could expect the two electric vehicles (EVs) in 2026, but the automaker's most recent delay pushes the release to at least 2027. The 718 pair's postponed launch primarily centers around Swedish battery maker Northvolt's bankruptcy late last year, which Porsche heavily relied on for high-energy-density cells in its electric sports cars. The Porsche Taycan EV, on the other hand, uses cells from LG Chem in South Korea. Porsche previously announced plans to electrify 80% of its worldwide fleet by 2030. 'Because the battery electric adoption is behind schedule, Porsche now has to develop additional combustion models on top of dealing with the costly delays in BEV ramp-up, as well as managing the weak situation in China and uncertainty around U.S. exports,' Fabio Hölscher, analyst at Warburg Research, said according to Automotive News. Porsche 718 Boxster and Cayman — Source: Porsche Lower-than-expected EV demand also influenced Porsche's decision to delay its 718 Boxster and Cayman. Porsche cut 1,900 research and manufacturing jobs across its main German facilities in February because of a lagging electromobility ramp-up. The automaker formed the Cellforce Group in June 2021 to develop and create battery cells, but steep competition from Chinese rivals hurt the company's investment prospects for a production launch, according to Carscoops. In mid-2024, Porsche pulled its gas-powered Boxster and Cayman from European markets due to cybersecurity regulations. Meeting the new regulations, which took effect July 1, 2024, would require Porsche to completely re-engineer the gas-powered 718 Boxster and Cayman late in their life cycle. However, limited-edition variants like the Cayman GT4 RS and Boxster RS are exempt from the regulations. Remaining sales of the 718 Boxster and Cayman in other markets will conclude at the end of 2025. Porsche's CEO faces investor doubts Amid troubled EV development, declining sales in China, and U.S. export tariffs, Porsche's CEO, Oliver Blume, also CEO of Porsche's parent company, Volkswagen, is facing increased pressure from Volkswagen shareholders to focus on one company instead of both. Similarly, Tesla CEO Elon Musk has faced criticism for splitting his time between multiple companies and assuming the role of a special government employee. During Tesla's Q1 results call last month, Musk stated he'd be reducing his time working with the Trump administration to prioritize Tesla. Blume noted that the decision to maintain or change his role as Volkswagen and Porsche CEO lay with each respective non-executive board of directors, Fortune reports.'It has been clear since the beginning that the dual role is not intended to last forever,' Blume said. Dr. Oliver Blume, Chairman of the Executive Board, Dr. Jochen Breckner, Member of the Executive Board, Finance and IT at Porsche — Source: Porsche Final thoughts The significance of Porsche delaying the 718 Boxster and Cayman for a second time is underscored by its struggles against U.S. auto import tariffs. Porsche doesn't have any manufacturing facilities in the U.S., and recently confirmed a few weeks ago that they have no plans to expand into the U.S., considering the company's low sales figures, according to Reuters. The German automaker's finance chief, Jochen Breckner, clarified that while Porsche hasn't raised prices, it will if U.S. tariffs remain in place. Given that the Boxster and Cayman have served as entry-level models for Porsche's lineup, the combination of a delay and raised prices won't do their debut any favors.
Miami Herald
20-05-2025
- Automotive
- Miami Herald
Supply Woes Continue as Porsche Pushes Back Electric Boxster/Cayman Launch Again
Porsche has delayed the launch of its all-electric versions of the 718 Boxster and Cayman for the second time over difficulties sourcing the models' high-performance battery cells. In April, Porsche said drivers could expect the two electric vehicles (EVs) in 2026, but the automaker's most recent delay pushes the release to at least 2027. The 718 pair's postponed launch primarily centers around Swedish battery maker Northvolt's bankruptcy late last year, which Porsche heavily relied on for high-energy-density cells in its electric sports cars. The Porsche Taycan EV, on the other hand, uses cells from LG Chem in South Korea. Porsche previously announced plans to electrify 80% of its worldwide fleet by 2030. "Because the battery electric adoption is behind schedule, Porsche now has to develop additional combustion models on top of dealing with the costly delays in BEV ramp-up, as well as managing the weak situation in China and uncertainty around U.S. exports," Fabio Hölscher, analyst at Warburg Research, said according to Automotive News. Lower-than-expected EV demand also influenced Porsche's decision to delay its 718 Boxster and Cayman. Porsche cut 1,900 research and manufacturing jobs across its main German facilities in February because of a lagging electromobility ramp-up. The automaker formed the Cellforce Group in June 2021 to develop and create battery cells, but steep competition from Chinese rivals hurt the company's investment prospects for a production launch, according to Carscoops. In mid-2024, Porsche pulled its gas-powered Boxster and Cayman from European markets due to cybersecurity regulations. Meeting the new regulations, which took effect July 1, 2024, would require Porsche to completely re-engineer the gas-powered 718 Boxster and Cayman late in their life cycle. However, limited-edition variants like the Cayman GT4 RS and Boxster RS are exempt from the regulations. Remaining sales of the 718 Boxster and Cayman in other markets will conclude at the end of 2025. Amid troubled EV development, declining sales in China, and U.S. export tariffs, Porsche's CEO, Oliver Blume, also CEO of Porsche's parent company, Volkswagen, is facing increased pressure from Volkswagen shareholders to focus on one company instead of both. Similarly, Tesla CEO Elon Musk has faced criticism for splitting his time between multiple companies and assuming the role of a special government employee. During Tesla's Q1 results call last month, Musk stated he'd be reducing his time working with the Trump administration to prioritize Tesla. Blume noted that the decision to maintain or change his role as Volkswagen and Porsche CEO lay with each respective non-executive board of directors, Fortune reports."It has been clear since the beginning that the dual role is not intended to last forever," Blume said. The significance of Porsche delaying the 718 Boxster and Cayman for a second time is underscored by its struggles against U.S. auto import tariffs. Porsche doesn't have any manufacturing facilities in the U.S., and recently confirmed a few weeks ago that they have no plans to expand into the U.S., considering the company's low sales figures, according to Reuters. The German automaker's finance chief, Jochen Breckner, clarified that while Porsche hasn't raised prices, it will if U.S. tariffs remain in place. Given that the Boxster and Cayman have served as entry-level models for Porsche's lineup, the combination of a delay and raised prices won't do their debut any favors. Copyright 2025 The Arena Group, Inc. All Rights Reserved.
Scottish Sun
15-05-2025
- Automotive
- Scottish Sun
Luxury sports car brand ‘blames EVs for its struggles' – weeks after axing 4,000 jobs in desperate cost-cutting measure
It has been unable to keep up with the growing market in China CHARGED UP Luxury sports car brand 'blames EVs for its struggles' – weeks after axing 4,000 jobs in desperate cost-cutting measure A luxury carmaker is reportedly blaming EVs for the challenges it has been facing. Reporting of recent struggles comes as the company announced plans to axe around 4,000 jobs earlier this month. Advertisement 2 Sales in the US are impacted by higher tariffs and electrification strategy faults Credit: Getty 2 The Porsche Taycan was the first mass-produced electric car model from Porsche Credit: Getty Despite being considered among the world's most profitable automakers, Porsche has faced dropping sales, deep tariffs and stiff EV competition. Experts have linked this to the company's overly aggressive and inflexible electrification strategy. Porsche has had a goal of being 80 per cent electric worldwide by 2030, but analyst at Warburg Research Fabio Hölscher has said this target is at the heart of its problems. He told Automotive News: "Because the battery electric adoption is behind schedule, Porsche now has to develop additional combustion models on top of dealing with the costly delays in BEV ramp-up, as well as managing the weak situation in China and uncertainty around U.S. exports." Advertisement As a result, Porsche cut 1,900 of its research and manufacturing jobs at German facilities in February. Their revenue goals for this year were also cut by €2 billion, with an additional 8,000 jobs at stake. Hölscher suggested with "a more flexible approach" with more plug-in hybrids and shared platforms like BMW, Porsche would have been able to better adjust to the rapidly shifting demand trends. However, first-quarter sales fell 42 per cent compared to the same period last year. Advertisement It also delayed the arrival of a wave of its new electric products, including electric 718 Boxster and Cayman replacements and a three-row SUV. Strong competition has been particularly seen in China against the German sports and luxury vehicle manufacturer. Porsche's stunning Turbo Taycan is sporty EV that goes zero to 60 in under three seconds This is because high horse-power EVs are surprisingly cheap, enabling electrification to see a surge in the Chinese market. Cars like the Xiaomi SU7 Ultra and Yangwayg U9 provide four-figure horsepower and active suspension tech, whilst being relatively affordable. Advertisement For Vice President of Research Pedro Pacheco, Porsche's "biggest problem is China". Along with recent job cuts, the company has also seen a shake-up of its executive team. Former VW Group development boss Michael Steine became deputy chairman of Porsche's executive board and its finance and sales bosses were replaced at the end of February.
The Sun
15-05-2025
- Automotive
- The Sun
Luxury sports car brand ‘blames EVs for its struggles' – weeks after axing 4,000 jobs in desperate cost-cutting measure
A luxury carmaker is reportedly blaming EVs for the challenges it has been facing. Reporting of recent struggles comes as the company announced plans to axe around 4,000 jobs earlier this month. 2 2 Despite being considered among the world's most profitable automakers, Porsche has faced dropping sales, deep tariffs and stiff EV competition. Experts have linked this to the company's overly aggressive and inflexible electrification strategy. Porsche has had a goal of being 80 per cent electric worldwide by 2030, but analyst at Warburg Research Fabio Hölscher has said this target is at the heart of its problems. He told Automotive News: "Because the battery electric adoption is behind schedule, Porsche now has to develop additional combustion models on top of dealing with the costly delays in BEV ramp-up, as well as managing the weak situation in China and uncertainty around U.S. exports." As a result, Porsche cut 1,900 of its research and manufacturing jobs at German facilities in February. Their revenue goals for this year were also cut by €2 billion, with an additional 8,000 jobs at stake. Hölscher suggested with "a more flexible approach" with more plug-in hybrids and shared platforms like BMW, Porsche would have been able to better adjust to the rapidly shifting demand trends. However, first-quarter sales fell 42 per cent compared to the same period last year. It also delayed the arrival of a wave of its new electric products, including electric 718 Boxster and Cayman replacements and a three-row SUV. Strong competition has been particularly seen in China against the German sports and luxury vehicle manufacturer. This is because high horse-power EVs are surprisingly cheap, enabling electrification to see a surge in the Chinese market. Cars like the Xiaomi SU7 Ultra and Yangwayg U9 provide four-figure horsepower and active suspension tech, whilst being relatively affordable. For Vice President of Research Pedro Pacheco, Porsche's "biggest problem is China". Along with recent job cuts, the company has also seen a shake-up of its executive team. Former VW Group development boss Michael Steine became deputy chairman of Porsche's executive board and its finance and sales bosses were replaced at the end of February.
The Irish Sun
15-05-2025
- Automotive
- The Irish Sun
Luxury sports car brand ‘blames EVs for its struggles' – weeks after axing 4,000 jobs in desperate cost-cutting measure
A luxury carmaker is reportedly blaming EVs for the challenges it has been facing. Reporting of recent struggles comes as the 2 Sales in the US are impacted by higher tariffs and electrification strategy faults Credit: Getty 2 The Porsche Taycan was the first mass-produced electric car model from Porsche Credit: Getty Despite being considered among the world's most profitable automakers, Porsche has faced dropping sales, deep tariffs and stiff EV competition. Experts have linked this to the company's overly aggressive and inflexible electrification strategy. Porsche has had a goal of being 80 per cent electric worldwide by 2030, but analyst at Warburg Research Fabio Hölscher has said this target is at the heart of its problems. He told Read More Motors News As a result, Porsche cut 1,900 of its research and manufacturing jobs at German facilities in February. Their revenue goals for this year were also cut by €2 billion, with an additional 8,000 jobs at stake. Hölscher suggested with "a more flexible approach" with more plug-in hybrids and shared platforms like BMW, Porsche would have been able to better adjust to the rapidly shifting demand trends. However, first-quarter sales fell 42 per cent compared to the same period last year. Most read in Motors It also delayed the arrival of a wave of its new electric products, including Strong competition has been particularly seen in China against the German sports and luxury vehicle manufacturer. Porsche's stunning Turbo Taycan is sporty EV that goes zero to 60 in under three seconds This is because high horse-power EVs are surprisingly cheap, enabling electrification to see a surge in the Cars like the Xiaomi SU7 Ultra and Yangwayg U9 provide four-figure horsepower and active suspension tech, whilst being relatively affordable. For Vice President of Research Pedro Pacheco, Porsche's "biggest problem is China". Along with recent job cuts, the company has also seen a shake-up of its executive team. Former VW Group development boss Michael Steine became deputy chairman of Porsche's executive board and its finance and sales bosses were replaced at the end of February.
