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Porsche is working on its biggest vehicle yet. It will be an electric SUV with a third row of seats, which Porsche will position as the flagship model as part of a strategy to increase margins by focusing more on the high-end segment.
The strategy, known as Road to 20, aims to increase operating profit on sales to more than 20% over the long term, up from 18% currently. The SUV will be the center of attention.
Porsche CEO Oliver Blume first confirmed plans for the SUV last July, and he revealed new details Monday during Porsche’s annual general meeting.
He said the vehicle will sport a signature Porsche-inspired profile of the 911, which the automaker calls the Porsche flyline, but with a completely new concept for the interior and automatic driving features.
Volkswagen AG CEO Oliver Blume
He also said the vehicle will be based on the new SSP Sport platform, which is being developed by Porsche. The platform is expected to share elements with parent Volkswagen Group’s SSP platform which will feature common battery cells and software systems across a range of vehicles from the automaker’s diverse portfolio of brands.
The SSP Sport version is expected to feature the technology featured in Porsche’s Mission R concept shown in 2021. The concept features a high-performance battery, 920-volt electrical system and an oil-cooled electric motor.
Production is expected to be handled at Porsche’s factory in Leipzig, Germany, where the Panamera and Macan are built. The plant will also build the upcoming electric Macan compact crossover.
Porsche hasn’t confirmed a timeline but Blume said Monday Porsche will launch the electric Macan in 2024 and the 718 electric sports car sometime in 2025, after which the automaker will launch the electric Cayenne and then its flagship SUV. Porsche has previously hinted at a launch date for its flagship SUV sometime in 2027, pointing to an electric Cayenne arriving sometime in 2026.
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