Porsche to shut down its charging network in China
What's the story
Porsche is planning to wind down its charging infrastructure in China next year. The decision comes amid growing challenges for Volkswagen's luxury subsidiary in the competitive Chinese market. According to a report by Chinese news agency Yicai, Porsche China will gradually close its own network of around 200 charging stations starting March 1.
Strategic change
Porsche's shift toward 3rd-party charging operators
Instead of maintaining its own network, Porsche China plans to collaborate more closely with leading third-party charging operators. The move is part of a broader strategy to adapt to the changing market conditions in China. A company spokesperson has yet to comment on this development or its implications for Porsche's future operations in the country.
Market challenges
Declining sales in China
The decision to shut down its charging network comes as Porsche struggles to maintain its foothold in the Chinese market. The company has seen a decline of over 25% in sales during the first nine months of this year. This is largely due to stiff competition from local brands and an overall challenging business environment.
Network reduction
Porsche's plans to reduce dealer network
After a disappointing third quarter, Porsche executives revealed plans to cut down the company's dealer network in China. The plan is to reduce the number of dealers from 150 to 80.