Porsche's New CEO Doubles Down On Gas Engines After $3.5 Billion EV Bet Backfires [Yahoo! Finance]
PORSCHE AUTOMBL UNSP/ADR (POAHY)
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Source: Yahoo! Finance
Porsche is betting on gas engines and aggressive cost cuts to pull itself out of one of the worst financial periods in its modern history. Porsche booked $4.5 billion in extraordinary expenses in 2025, including a $3.5 billion writedown for its EV strategy pivot. Its operating profit collapsed 98% , margins shrank to 0.3%, and shares have fallen by more than half since 2022. New CEO Michael Leiters, who led McLaren before taking the job, has a clear diagnosis: the company moved too fast toward electric, and now it needs to move back. Porsche View the 1 images of this gallery on the original article The EV Bets That Didn't Pay Off Several key electric decisions proved badly timed. Taycan sales fell 49% in 2024, undercut by slowing EV demand and Chinese manufacturers offering high-performance electric sedans at a fraction of the price. The bigger miscalculation involved the Macan, Porsche's global best-seller for years. The company had planned to replace the combustion-powere
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