Porsche, car manufacturer between two worlds

The acceleration is so strong that the duly helmeted and belted passenger remains glued to his seat. The stomach seizes up, the heart rate skyrockets, heat floods the cheeks. On the Porsche circuit in Leipzig (Saxony, eastern Germany), the driver pushes the electric motors of the Porsche Taycan Turbo GT. The handling, the brand’s strong point, is impeccable. The feat is no small feat. With its 100 kilowatt-hour battery, this 1,100 horsepower, 2.3 ton model is the most powerful of all mass-produced Porsches in history.

Read also | 911, Porsche’s winning number

The objective of the expensive demonstration, carried out alongside the annual results on March 12, is clear: to show around fifty journalists from all over the planet that Porsche’s electric cars produce as much“emotions” on the road as the legendary 911, the emblematic and roaring car born sixty years ago. The timing is carefully chosen: the manufacturer has just launched the electric version of the Macan SUV (also being tested that same day), its best-selling model in 2023 with the Porsche Cayenne, and which must play a major role in the electrification of the range.

Almost ninety-three years after its creation by Ferdinand Porsche, the Stuttgart firm finds itself engaged on a perilous road, between two antagonistic worlds. On the one hand, there is the thermal engine which forged its legend, and which remains vital for its economic model. On the other, electric mobility which represents part of its future and has above all been the subject of dizzying investments: in 2025, 15 billion euros will have been spent on the electrification of Porsche. Despite the good financial results of March 12 (40 billion euros in turnover, up 7.7%; more than 5 billion in profits and an operating margin of 18%), the moment remains delicate.

Especially since a second strategic dilemma is emerging. Geopolitical tensions between China and the United States could force the company to choose between its two main outlets, both vital. Oliver Blume, boss of both Porsche and Volkswagen, the parent company, will have to manage in the coming months a sort of double “at the same time” with potentially major consequences for the 42,000 employees of this automobile flagship.

Read also: Article reserved for our subscribers Porsche’s IPO or the revenge of a clan

First challenge: negotiating the electric turning point. The manufacturer, listed on the stock exchange separately from Volkswagen since fall 2022, has set itself the mission of selling 80% of its vehicles electric by 2030. But is a Porsche a Porsche without its thermal engine? In particular the flat six-cylinder which equips the 911 − the legendary “flat six” for aficionados?

You have 72.48% of this article left to read. The rest is reserved for subscribers.

source site-29