By the end of this decade, more than 80 per cent of all vehicles sold by Porsche will be electric, its chief executive Oliver Blume told Bild am Sonntag in an interview on Sunday.
This will include fully electric and hybrid variants, while Porsche will continue to offer its 911 model with internal combustion engines, albeit capable of handling synthetic fuels, he said.
Its current flagship electric vehicle is the Taycan (gallery above) which it unveiled in 2019.
Porsche said earlier that it expected about half of the cars it sells by 2025 to be electric.
Over the next five years, Porsche will invest €15 billion ($18.07bn) in electrification of its vehicles, the newspaper said. Of the company’s fully electric Taycan model, that starts at €80,000, more than 20,000 units were shipped to customers last year, the newspaper said.
Porsche AG also announced that is setting up an assembly plant in Malaysia as it seeks to make the nation its south-east Asian nucleus, the Edge weekly newspaper reported on Saturday, citing unnamed sources.
Porsche will partner with Inokom, a unit of Sime Darby, in the venture, which will be located in the northern state of Kedah, the Edge said. It will be the company's first assembly plant outside Germany, the report said.
The move by Porsche will provide a much-needed boost to Malaysia, which has lagged behind Indonesia and Thailand in securing big investments by global automakers, the report said.
Christian Weiss, Porsche's deputy director of corporate communications, said South-east Asia has great potential and the company is continuously examining options for further growth in this market, the Edge reported.