Porsche CEO Oliver Blume has confirmed his company plans to introduce a high-end electric SUV to their lineup of vehicles. The German automaker already has plans to introduce an electric version of their Macan SUV, but this new electric SUV will be positioned higher in their lineup than both the Macan and their other SUV, the Cayenne.
Blume announced the product line expansion at the company’s Capital Markets Day event in Weissach, Germany on Monday, saying it will be a “very sporty interpretation of an SUV.”
“We plan to add a new luxury, all-electric SUV model to our attractive portfolio, which will roll off the production line in Leipzig. This will further expand our position in the luxury automotive segment. We are targeting the higher margin segments in particular and aim to tap into new sales opportunities in this way.” (via Automotive News)
Not much is known about the new electric SUV, which is codenamed K1. Porsche is targeting to begin production by the middle of the decade. It will be built at their production facility in Leipzig, Germany.
The new model will incorporate some technology from the Mission R concept unveiled at the Munich IAA auto show last year. According to Porsche it will feature a new high-performance battery, 902-volt electrical system, and a direct oil-cooled electric motor.
Porsche currently has just one all-electric vehicle, the Taycan, which has proven extremely popular since its launch in 2020, having even outsold the iconic 911 sports car.
The automaker plans to introduce other EVs into its lineup. The electric Macan has been delayed and will miss its 2023 launch date, now hitting the market in 2024 instead.
As we have previously reported, Porsche is also planning to introduce electric versions of the Cayman and Boxster by 2025. Blume confirmed this timeline on Monday.