Porsche's stock drops over 7% after delaying EV rollout
Porsche's stock just dropped over 7% after the company said it's pushing back its electric vehicle (EV) rollout. With fewer people buying EVs lately, Porsche is reworking its plans—and that uncertainty hit their stock hard.
Volkswagen, which owns Porsche, also saw its shares slip as it announced big investments to update Porsche's lineup.
Porsche is going against Europe's plans to ban petrol cars
Porsche will keep making gas-powered cars for now—even though Europe plans to ban new petrol and diesel models by 2035.
The company says an upcoming line of SUVs, originally planned as fully electric, will now launch exclusively with combustion engines and plug-in hybrid options.
They're facing tough challenges like US import tariffs, a cooling luxury car market in China, and slower overall growth in EV demand—plus rising competition from Chinese brands is making things even trickier for European automakers.