Porsche Discussed Possible Projects With Apple 5l1t61 CEO Oliver Blume Says

Porsche is also considering whether to enter Formula One. 1d1112

By Reuters | Updated: 18 March 2022 17:55 IST

Porsche Discussed Possible Projects With Apple, CEO Oliver Blume Says

Photo Credit: Facebook/ Porsche 182t2j

Porsche on Friday set out a more ambitious sales target for electric vehicles

Highlights

Porsche eyeing to make 80 percent of newly sold vehicles electric in 2030
Volkswagen's supervisory board will decide about Porsche's F1 entry
Audi is also considering whether to enter Formula One

ment

Volkswagen's sportscar maker Porsche has discussed what its CEO said were exciting common projects with iPhone maker Apple, but he said no decision had been made yet.

Porsche is also considering whether to enter Formula One, but no decision has been made, chief executive Oliver Blume said during a video conference on the carmaker's annual results on Friday.

German newspaper Frankfurter Allgemeine Zeitung had reported in January that Volkswagen's supervisory board would decide at the end of February whether both its luxury brand Audi and Porsche would F1.

Porsche on Friday also set out a more ambitious sales target for electric vehicles.

More than 80 percent of newly sold Porsche vehicles will be fully-electric in 2030, Porsche chief executive Oliver Blume said at the group's annual press conference.

That target previously applied to Porsche's electrified models overall, which also includes plug-in hybrids.

Porsche also stuck to its long-term target of an operating margin of at least 15 percent, finance chief Lutz Meschke said.

Volkswagen and its top shareholder Porsche SE struck a framework agreement for a potential partial listing of Porsche, which could value the division at up to 90 billion euros (roughly Rs. 756.289 crore).

© Thomson Reuters 2022

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