Porsche is adding a new range-topping all-electric crossover to its lineup. CEO Oliver Blume confirmed the addition at the company's presentation for investors Monday, Automotive News reported. The new crossover will slot in above the successful Macan and Cayenne crossovers in Porsche's lineup, and it's likely to bring in that sweet, sweet cash money accordingly.
The SUV would be a logical next step to build on the success of the Taycan EV, which already outsells Porsche's flagship 911 sports car. Given how good the Taycan is, we've got high hopes for this one. Blume said the new crossover will be "a very sporty interpretation of an SUV," according to Automotive News.
Porsche confirmed that the new crossover EV will incorporate some of the technology from Porsche's cool Mission R concept, including the Mission R's direct oil-cooled electric motor, a new high-performance battery, and a 920-volt electrical system designed for shorter charging times.
Porsche plans to build the new electric crossover at its plant in Leipzig, Germany, starting sometime in the middle of the decade, according to the report. Automotive News Europe previously reported that it will build this new flagship crossover on the Premium Platform Electric architecture that it co-developed with Audi. The upcoming Macan EV and Panamera EV will also be based on Premium Platform Electric.
The new model comes as part of the company's wider push to have 80% of its global sales be all-electric by 2030. Blume also confirmed that the 718 will also go electric by the middle of the decade, and the Macan EV is now scheduled to go on sale in 2024.
Monday's investor presentation was an event Porsche held for analysts ahead of its initial public offering, so it makes sense that Porsche will announce a profitable-sounding idea that's right in line with current automaker trends there. It's more surprising to hear that an automaker doesn't have plans for an electric crossover or SUV nowadays, after all. These big luxury vehicles come with big profit margins that are just too sweet for many to pass up.
"We are targeting the higher margin segments in particular and aim to tap into new sales opportunities in this way," Blume said in a statement.
This isn't to say it's completely been smooth sailing for Porsche's electrification plans. The electric Macan and its sister Audi Q6 e-tron model were supposed to go on sale next year, but the development of its advanced software is behind schedule.
So, even if you're one of the purists who doesn't like any new Porsche that has more than two doors, this is good news. If this electric crossover is as big of a hit as expected, this will help ensure there's enough R&D cash sitting around to fund new hardcore track-ready 911s for years to come. We're just hoping it also has the towing capacity to haul a track Porsche behind it.