AUTOMOBILE
Porsche was among the first high-end sports carmakers to venture into the growing SUV market when it launched the Cayenne in 2002.
Porsche unveiled plans to launch a new all-electric SUV as it reported a rise in sales and profit in its first annual earnings since parent Volkswagen took the sports-car maker public last year, according to the Wall Street Journal.The German company said on Monday that the new luxury SUV would be a cornerstone of its plan to boost profitability by having a sharper, strategic focus on high-end automotive consumers.
While Porsche has always made high-end vehicles, like the iconic 911 and its all-electric sedan, the Taycan, the company is seeking to follow rivals like Ferrari, Mercedes-Benz Group and Aston Martin Lagonda Global Holdings in targeting the growing ranks of the world's wealthiest consumers, WSJ said."We are underlining and strengthening our sporty luxury positioning," said Porsche Chief Executive Officer Oliver Blume.
"We see there are growing profit pools in this segment, especially in China and the US."Blume did, though, add that the design of the new all-electric SUV would feature Porsche`s typical curving front-to-rear fly line, give a strong electric performance and include a range of fully automated functions. The SUV will be based on Porsche`s own performance EV technology, WSJ said.
Porsche was among the first high-end sports carmakers to venture into the growing SUV market when it launched the Cayenne in 2002. According to WSJ, The success of the vehicle, and its smaller cousin, the Macan, launched in 2014, inspired other luxury car makers including Bentley and Lamborghini to develop their own luxury SUVs.
The Wall Street Journal said an all-electric version of the Macan is due to be launched next year after a delay because of troubles with VW`s software. An all-electric version of the 718 sports car is slated to come to market next year, followed later by the launch of a new electric generation of the company's Cayenne SUV. VW holds 75 percent of Porsche.
DNA TV Show: UP CM Yogi Adityanath's multi-level plan for Maghi Purnima
Tejasswi Prakash reveals why she joined Celebrity MasterChef: 'I am obsessed with...'
Delhi-NCR schools holiday: Delhi, Noida, Gurugram, Ghaziabad, schools closed tomorrow due to...
'We can teach children AI but...': Sudha Murty urges govt to provide funds to schools to promote...
THIS startup gives whopping bonus to employees for loyalty, they get Rs...
JEE Main 2025 Toppers List Released: Meet 14 candidates who scored 100 percentile this year
JEE Main Result 2025 DECLARED: Get direct link, steps to check NTA score and other details HERE
SHOCKING! Noida family held under ‘digital arrest’ for 5 days, loses Rs 1 crore to cyber fraud
Ranveer Singh, Akshaye Khanna shoot for Aditya Dhar's Dhurandhar in Mumbai, pictures get leaked
Why are hobby classes integral to Podar International School’s curriculum in Khopoli?
Mukesh Ambani buys Rs 6437604000 stake in THIS cricket team, not Mumbai Indians
World's richest man Elon Musk loses Rs 789330000000 in four days, net worth slips below Rs...
'Need global standards': PM Modi pushes for AI governance at Paris AI Summit
Ashutosh Rana slams Prabhas, Saif Ali Khan-starrer Adipurush: 'Audiences will not accept...'
Ahead of PM Modi-Donald Trump meet, India considers cutting tariffs on THESE items imported from US
Communication platforms are fast evolving into super apps
Mumbai Police reaches Ranveer Allahbadia's home in connection to India's Got Latent controversy
Junaid Khan says Aamir Khan, Reena Dutta spent ‘ridongculous’ amount on his...
Rohit Sharma, Rishabh Pant's warm gesture towards kid wins internet, watch viral video
Ajith Kumar recalls 'bad crash’ ahead of Portugal race: ‘When I crashed...'
India's Got Latent episode feat Ranveer Allahbadia blocked after government orders
Samay Raina performs in Seattle, enjoys with friends amid Ranveer Allahbadia controversy
Good news for Gautam Adani as Adani stocks rally up to 4.5% due to Donald Trump's this BIG move...
Amid rumours of dissent, AAP chief Arvind Kejriwal holds meeting with Punjab CM Mann, MLAs in Delhi
Woman makes 'Valentine edition parantha' for husband, netizens amused, watch viral video
How cashless treatment and telemedicine are transforming health insurance plans in India?
Top 3 astrologers of India: Newly updated list of 2025
A complete guide to documents needed for a personal loan
Mitolyn Reviews and Complaints - Mitolyn Supplement - Mitolyn Reviews Consumer Reports
Muslim wedding card goes viral for THIS bizarre reason, leaves netizens amused, check here
Surat: School students parade luxury cars to celebrate farewell, probe underway, watch viral video
Elon Musk offers this huge amount to buy ChatGPT maker OpenAI, Sam Altman says 'no thank you but...'
Pune: Pakistani currency note found in housing society near National Defence Academy; probe on
YouTube removes Ranveer Allahbadia's controversial video after Modi government's notice
Here's why Not Like Us singer Kendrick Lamar won't get paid for Super Bowl Halftime Show performance
Meet Samay Raina, creator of India's Got Latent, accused of promoting vulgarity, he is from...
Bank Holiday February 2025: Banks to remain closed in THIS state today due to...
Donald Trump issues BIG warning to Hamas, says 'all hell will break out' if...
Anil Ambani's RCap buy: Hinduja Group firm set to acquire debt-ridden Reliance Capital by THIS date
Meet man, MBA graduate from Harvard, who leads one of world’s big tech firms as CEO, he is...
Delhi-Dehradun Expressway opens, check travel time, toll fee and more
What happens during Snow Moon and when does it appear? Check dates and when to see
‘RBI’s gold buying is...’: FM Nirmala Sitharaman talks about rising gold reserves by central bank
Meet the Muslim king all set to challenge Donald Trump over Gaza, he is from...
Ranveer Allahbadia’s viral joke on Samay Raina's India's Got Latent was stolen! The original was...
THIS Indian billionaire carries coffin of his employee, netizens call him ‘true leader’
Days after Jeet Adani-Diva Shah's marriage, Gautam Adani set to spend Rs 6000 crore on...
'Please let me stay the night:' Female trainee asked to leave Infosys premises at 6 pm even after...
Auto driver’s son studies at IIT, but luxury hotel refuses his auto's entry, billionaire calls it...
Who is Kuldeep Sharma? Ex-IPS gets three-month jail term in...
Meet woman, who lived in village, later got job at Amazon, now working in US as...
Beef Biryani Row Explained: Police file FIR day after incident at AMU; here's what happened