Porsche AG

Business

Porsche's Electric Sports Car Ambitions Stall as Budget Pressures Mount

Under new CEO Michael Leiters, Porsche is reportedly considering axing its planned all-electric 718 Boxster and Cayman line. The potential move, driven by development hurdles and soaring costs, signals a strategic recalibration as the automaker grapples with a sales slowdown in China and the financial weight of revising its EV roadmap.

Business

Porsche's Profits Plummet 92% Amid Strategic Pivot, Forcing Deeper Job Cuts

The iconic German automaker faces a perfect storm: a massive €3.9 billion write-down on its electric vehicle strategy reversal, a sustained sales slump in China, and punishing U.S. tariffs have cratered its 2025 operating profit. In response, CEO Michael Leiters announces further workforce reductions beyond the 3,900 already planned, as the company scrambles to streamline and refocus on more profitable combustion-engine and luxury models.