Porsche Slows Down Shift to All-Electric Cars Due to Falling Demand

German automaker Porsche has revised its strategy and is now slowing down its shift towards an all-electric vehicle lineup. This announcement comes from the company's CFO, Lutz Meschke. The decision is attributed to declining demand for electric vehicles and Porsche's desire to cater to diverse market needs. Currently, Porsche offers two electric models: the Taycan four-door coupe and the Macan SUV. While the company had planned to expand its electric offerings with the new Cayenne and another unannounced SUV, market changes have prompted a reassessment. Porsche is now considering hybrid or traditional gasoline engines for these models. Previously, Porsche aimed for electric vehicles to account for 80% of its sales by 2030. However, the company faced declining EV sales in the US and challenges in the Chinese market, where competition from more affordable local brands is intense.