Porsche CEO says most sales will be electric vehicles by 2030

By the end of this decade, more than 80% of all vehicles sold by Porsche Automobile Holding SE will be electric, Chief Executive Officer Oliver Blume told Bild am Sonntag in an interview published Sunday.

This will include fully electric and hybrid variants, while Porsche will continue to offer its 911 model with internal combustion engines, albeit able to handle synthetic fuels, the newspaper cited the executive as saying.

Porsche said earlier that it expects about half of the cars it sells by 2025 will be electric.

Over the next five years, Porsche will invest 15 billion euros ($18.1 billion) in electrification of its vehicles, the newspaper said. Of the company’s fully electric Taycan model, that starts at 80.000 euros, over 20,000 units were shipped to customers last year, the newspaper said.