Porsche is set to unveil its first fully electric SUV in 2024, the Macan EV, which will be “the sportiest model in its segment,” according to the automaker. Although Porsche is pushing its release back another year, the company is finally giving us the details of what we can expect from the long-awaited Macan EV.
Despite initial hesitancy in going all in on electric with concerns over performance, the German automaker is not looking back.
It all started with the release of the electric Taycan, which has been a wild success for Porsche, with the company producing its 100,000th model last week.
Porsche’s first electric model even outsold the iconic Porsche 911 last year, with over 41,000 deliveries. Kevin Giek, VP of Model Line Taycan, stated:
With the Taycan, we have made a decidedly successful start in the electric age.
However, Porsche doesn’t plan to let the momentum slow. The automaker plans to build on its success following up with the Macan EV in 2024. In fact, according to reports in August, Porsche expects the output of its electric Macan to reach the same, if not more, than its gas-powered counterpart.
With Volkswagen CEO Oliver Blume at the helm, Porsche expects at least half of total sales to come from electric vehicles by 2025, which will quickly ramp to 80% by 2030.
The Porsche Macan EV launching in 2024 will likely play a key role in getting the German automaker there. Here’s what we know so far about Porche’s first all-electric SUV.
Porsche electric Macan testing
Porsche releases details on 2024 Macan EV
The Macan EV will be the first Porsche model to sit on its upcoming Premium Platform Electric (PPE), its dedicated electric vehicle platform co-developed with Audi.
The PPE EV platform is set to use an 800V electrical system, while Porsche will utilize 100 kWh battery packs. According to the company, this is the ideal size for superior range and performance.
Porsche also says it’s planning to further improve charging speeds (over the Taycan’s 270 kW) with a target recharge rate from 5% to 80% in less than 25 minutes.
The German automaker’s PPE platform will be designed for both rear and all-wheel drive systems. Two liquid-cooled motors will produce up to 603 hp and 738 lb.-ft. of torque. Porsche will also be swapping silicon semiconductors with silicon carbide, which is better suited for higher-power models.
The rear motor will be mounted behind the rear axle, like the 911, in what Porsche calls its Performance Rear Axle. The approach gives the Macan EV a better weight balance of 48 to 52% front to rear.
Deliveries of the Macan EV are slated for 2024, with Porsche targeting an official release in either late 2023 or 2024 as it finalizes tuning.
Electrek’s Take
I wouldn’t doubt the Macan EV to be the “sportiest model in its segment” with Porsche’s performance history.
The Macan EV will make an excellent addition to the Porsche Taycan, giving it the market potential it needs to achieve its electric sales targets. Although Porche’s fully electric SUV is getting pushed back until 2024, I expect an aggressive rollout.
Look for Porsche to build on the success it established with the Taycan with the Macan EV in 2024.
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Lectric Ebikes appears to be preparing for a major new product launch, teasing what looks like the next evolution of its wildly popular folding fat tire electric bike. Based on the clues, it looks like a new Lectric XP 4 could be inbound.
In a social media post released over the weekend, the company shared a minimalist graphic reading “XP4” along with the message “Tune in 5.6.2025 9:30AM PT.” That date – this Tuesday – suggests we’re just hours away from the big reveal of the Lectric XP 4.
If true, this would mark the next generation of the most successful electric bike in the U.S. market. The current model, the Lectric XP 3.0, has become an icon of accessible, budget-friendly electric mobility. Starting at just $999, the XP 3.0 offers a foldable frame, fat tires, a 500W motor, a rear rack, lights, and hydraulic brakes – all packed into a highly shippable design that arrives fully assembled. It’s the kind of package that has helped Lectric claim the title of best-selling e-bike brand in the U.S. for several years in a row.
With the XP 3.0 still going strong, the teaser raises plenty of questions. Will the XP 4.0 be a modest update or a major leap forward? Could we see new features like torque-sensing pedal assist, a location tracking option, or upgraded performance? Or is Lectric preparing a more comfort-oriented variant, maybe even with upgraded suspension or even more accessories included standard?
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The teaser image, which features stylized stripes in grey, blue, and black, may hold some clues. One theory is that the colors represent new trim options or component upgrades. Another possibility is that Lectric is preparing multiple variants of the XP 4.0 – perhaps targeting commuters, adventurers, and off-road riders with purpose-built versions. We took the liberty of a bit of rampant speculation late last year, so perhaps that’s now worth a revisit.
At the same time though, Lectric’s penchant for launching new models at unbelievably affordable prices has never run up against such strong pricing headwinds as those posed by uncertainty in the current US-global trade war fueled by rapidly changing tariffs for imported goods.
Previous versions of the Lectric XP e-bike line have seen sky-high sales
Whatever the case, Lectric’s knack for surprising the industry with high-value, customer-focused e-bikes means expectations will be high. The brand has built a loyal following by delivering reliable performance at a price point that few can match, and any major update to the XP lineup is likely to ripple across the market.
As a young and energetic e-bike company, Lectric is also known for throwing impressive parties around the launch of new models. It looks like I may need to hop on a red-eye to Phoenix so I can see for myself – and so I can bring you all along, of course.
Be sure to tune in Tuesday at 9:30AM PT to see what Lectric has in store – and you can bet we’ll have all the details and first impressions as soon as they drop.
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Logo of the Organization of the Petroleum Exporting Countries (OPEC)
Andrey Rudakov | Bloomberg | Getty Images
U.S. crude oil futures fell more than 4% on Sunday, after OPEC+ agreed to surge production for a second month.
U.S. crude was down $2.49, or 4.27%, to $55.80 a barrel shortly after trading opened. Global benchmark Brent fell $2.39, or 3.9%, to $58.90 per barrel. Oil prices have fallen more than 20% this year.
The eight producers in the group, led by Saudi Arabia, agreed on Saturday to increase output by another 411,000 barrels per day in June. The decision comes a month after OPEC+ surprised the market by agreeing to surge production in May by the same amount.
The June production hike is nearly triple the 140,000 bpd that Goldman Sachs had originally forecast. OPEC+ is bringing more than 800,000 bpd of additional supply to the market over the course of two months.
Oil prices in April posted the biggest monthly loss since 2021, as U.S. President Donald Trump’s tariffs have raised fears of a recession that will slow demand at the same time that OPEC+ is quickly increasing supply.
Oilfield service firms such as Baker Hughes and SLB are expecting investment in exploration and production to decline this year due to the weak price environment.
“The prospects of an oversupplied oil market, rising tariffs, uncertainty in Mexico and activity weakness in Saudi Arabia are collectively constraining international upstream spending levels,” Baker Hughes CEO Lorenzo Simonelli said on the company’s first-quarter earnings call on April 25.
Oil majors Chevron and Exxon reported first-quarter earnings last week that fell compared to the same period in 2024 due to lower oil prices.
Goldman is forecasting that U.S. crude and Brent prices will average $59 and $63 per barrel, respectively, this year.
In a bid to keep up with the rapid growth of EVs, Chicago Department of Transportation (CDOT is currently seeking public feedback on a plan called “Chicago Moves Electric Framework.” The city’s first such plan, it outlines initiatives that include a curbside charging pilot through the city’s utility, ComEd, and expanded charging access in key areas throughout the city.
Unlike other such plans, however, the new plan aims to focus on bringing electric vehicle charging to EIEC and low income communities, too.
“Through this framework, we are setting clear goals and identifying solutions that reflect the voices of our residents, communities, and regional partners,” said CDOT Commissioner Tom Carney. “By prioritizing equity and public input, we’re creating a roadmap for electric transportation that serves every neighborhood and helps drive down emissions across Chicago.”
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Neighborhoods on the south and west sides of Chicago experience a disproportionate amount of air pollution and diesel emissions, largely due to vehicle emissions according to CDOT. Despite that, most of Chicago’s public charging stations are clustered in higher-income areas while just 7.8% are in environmental justice neighborhoods that face higher environmental burdens.
“Too often, communities facing the greatest economic and transportation barriers also experience the most air pollution,” explains Chicago Mayor Brandon Johnson. “By prioritizing investments in historically underserved areas and making clean transportation options more affordable and accessible, we can improve both mobility and public health.”
The Framework identifies other near-term policy objectives, as well – such as streamlining the EV charger installation process for businesses and residents and implementing “Low-Emission Zones” in areas disproportionately impacted by air pollution by limiting, or even restricting, access to conventional medium- and heavy-duty vehicles during peak hours.
The Chicago Moves Electric Framework includes the installation of Level 2 and DC fast charging stations in public locations such as libraries and Chicago’s Midway Airport, “supporting not only personal EVs but also electric taxis, ride-hail and commercial fleets.”
Chicago has a goal of installing 2,500 public passenger EV charging stations and electrifying the city’s entire municipal vehicle fleet by 2035.
Electrek’s Take
ComEd press conference at Chicago Drives Electric, 2024; by the author.