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Porsche to launch EV in India by 2020

Firm has set up charging points at its Kochi centre

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Pavan Shetty, director, Porsche India, at the launch of the new 911 GT3
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Luxury car maker Porsche will be bringing a fully-electric vehicle (EV) in India, in line with its global launch by the year 2020, said top management of the company on Monday.

In a build-up to the upcoming EV launch, Porsche has set up two charging points at its Kochi service centre, which could also be used for its hybrid vehicles that are already sold in the Indian market.

On Monday, the car maker launched 911 GT3, the two transmission variant of its successful GT sports car. The top management claims that some of the customers had pre-booked the car around a couple of years back.

As per the sources, the company has so far received eight orders for the new car and the delivery will start happening by next week.

According to Pavan Shetty, director of Porsche India, the company has sold over 400 cars annually in 2015 and 2016 and expects to surpass the figure in the calendar year.

"We are performing as per the expectations this year," said Shetty. In 2013, the sales figure had been over 500 units, presumably due to the pent-up demand.

When asked whether it makes sense for the company to keep coming up with new launches considering the spate of disruptions in the form of demonetization, goods and services tax implementation, economic slowdown, Shetty said that in the segment in which Porsche is sold, there are no 'good times' or 'bad times'.

According to the experts and company insiders, Porsche has been consciously making an effort to change its strategies in the India, which is among the fastest growing markets in the world.

The company's portfolio is making a shift towards sports car segment rather than sedans. Till 2015, about 17% of its sales were from sports cars, which have grown to 30% in 2017. Further, the share of diesel cars has moved from 74% in 2015 to around 40% now.

On challenges in the Indian market, Shetty hopes to see stability in the policy decisions. "Long-term planning happens only if the policies are well defined," he said.

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