Porsche’s new chief executive Michael Leiters has rejected being labelled an EV sceptic as “unfair,” insisting the company remains committed to electric vehicles while prioritising petrol models to revive profits. Since taking over in January, Leiters has streamlined Volkswagen-owned Porsche to focus on new combustion engines, including a petrol version of the best-selling Macan planned for 2028 to offset weak EV sales in China. He confirmed the electric 718 sports car is still in development but stated clearly that “there won’t be a 911 electric,” citing brand integrity and customer preference in luxury segments.

Leiters acknowledged ongoing demand for petrol cars in upper markets and said Porsche aims for a balanced offer between electric and petrol vehicles. He warned against “double investment” in both powertrains for the same segment, noting Macan’s electric sales fell 40% year-on-year while combustion sales rose 2% despite the petrol model being withdrawn in Europe over cybersecurity issues. Leiters stressed cost parity between EVs and petrol models remains unlikely short-term, which continues to pressure margins.

Under his leadership, Porsche has cut 9,000 jobs—about 20% of its workforce—by 2035 and scaled back ambitions after years of overblown growth. He affirmed access to VW’s EV tech but said Porsche must recover profitability before advancing its EV transition, especially amid rising competition from BYD and other Chinese premium brands in Europe.