Why Porsche might cancel its Cayman, Boxster electric sports cars
What's the story
Porsche is reportedly considering scrapping its upcoming electric sports cars, the 718 Cayman and 718 Boxster. The decision comes from Michael Leiters, the new CEO of Porsche, who is said to be mulling over canceling these models before they even hit production. The move is largely attributed to development delays and rising costs associated with the project.
Delayed debut
Delay in launch and change in strategy
The electric 718 models have been in the works for over six years, with an initial launch date set for 2025. However, Porsche stopped taking orders for the 718 models in the US last year. This came after a major shift in strategy when the automaker decided to keep internal-combustion RS models in production for another generation, and modify the 718 EV platform to accommodate combustion engines.
Market impact
Slumping sales and rising costs
The decision to possibly scrap the electric 718 models comes amid slumping sales in China and rising operational costs. These factors have been exacerbated by the company's ongoing EV strategy overhaul. However, it is worth noting that this isn't a final decision yet, as Leiters is still weighing his options.
Development delays
Development issues since late 2024
The electric 718 models have been plagued with development issues since December 2024. An engineer had claimed at the time that the automaker was "well behind schedule" with the vehicle. Further complicating matters, Porsche had to halt development last May due to Northvolt's bankruptcy. Despite these challenges, the company has yet to officially comment on reports of potentially scrapping these models.