Porsche confirms petrol Macan for 2028 and says the 911 will not go fully electric

Porsche's new chief executive, Dr Michael Leiters, has set out a strategy that keeps petrol and electric models alongside one another rather than replacing combustion with batteries across the board.

Leiters, who took over as CEO in January, told the Financial Times he sees the approach as recovery, not retreat, after a period of heavy EV investment that he said left the company exposed.

"I think that's unfair," said Michael Leiters, CEO.

The clearest example of that shift is the Macan: Leiters confirmed Porsche will reintroduce a petrol-powered Macan in 2028 and expects it to sit on sale alongside the electric version rather than replace it.

"We have to be careful to ensure that the company was not making a double investment in petrol and EVs in the same vehicle segment," said Michael Leiters, CEO.

Leiters cited weakening demand for the electric Macan as part of the rationale: electric Macan sales dropped 40 percent year on year in the first half, and deliveries in China fell 32 percent over the same period. Porsche's operating margin fell to 1.1 percent in 2022 amid the China slowdown and EV-related costs.

To restore profitability, Leiters has pushed cost reductions including a plan to trim about 9 000 jobs by 2035 and to close Porsche's electric-bike, battery and software subsidiaries. The company also raised roughly €1 billion by selling stakes in Bugatti Rimac and the Rimac Group.

"With a difficult environment, we have to rethink our business model and the scale of our organisation," said Michael Leiters, CEO.

Where models sit: 718 EV, petrol Macan, 911 stays as it is

Porsche is continuing development of a battery-electric 718 even as it brings the Macan back to petrol, treating the two as separate decisions driven by customer demand in each segment.

Leiters confirmed Porsche will not build a fully electric 911. The current 911 line already uses mild electrification in variants such as the Carrera GTS, but Porsche has ruled out a fully electric or plug-in hybrid 911 because it does not want to increase the car's size to accommodate additional hardware.

To contain EV development costs, Leiters said Porsche will lean on Volkswagen Group technology rather than expanding its own engineering footprint for every electric model.

"If we have an even playing field, we don't have to fear any competition," said Michael Leiters, CEO.

Taken together, the moves signal that Porsche intends to continue investing in electric vehicles while reintroducing petrol models where it sees demand — and cutting spending where it believes the company overextended itself.