Despite sales of its sole electric sports car falling in the first half of the year, Porsche is standing by its EV sales target for 2023. The automaker is warning supply chain disruptions could remain an issue for EV growth.
Porsche is still aiming for 12%-14% EV sales share in 2023
Porsche released the Taycan in 2019, and it quickly rose to become one of the brand’s top-selling models.
However, the growth has been fading for nearly two years now. After Taycan sales fell 16% last year to 34,801 units, Porsche attributed it to “supply chain bottlenecks and limited component availability.”
The trend has continued this year, with Taycan EV sales slipping another 4.7% in the first half of 2023 to 17,991 (compared to 18,777 in H1 2022).
According to Porsche, the Taycan deliveries continue to feel the impact of “shortfalls in the availability of parts,” more so than in other models. The electric car requires up to 5,000 semiconductors, which is more than any other vehicle in its lineup.
Despite the shortcomings so far this year, Porsche confirmed it still expects to hit its EV sales target of 12% to 14% delivery share.
Porsche Taycan Turbo (Source: Porsche)
Porsche’s EV share was at 10.8% through the first half of the year, down from 13% last year.
Meanwhile, Porsche continues relying on its ICE vehicles, with higher deliveries, operating profit, and revenue.
Several reports lately have indicated Porsche will continue to lean on ICE vehicles for the foreseeable future. For example, last month, Automotive News reported Porsche was reconsidering plans to phase out gas-powered Macan sales.
Porsche Macan EV winter testing (Source: Porsche)
A new report from Reuters claims Porsche plans to make the gas-powered 911 its last gas-powered vehicle in its lineup. 911 deliveries grew by over 20% in the first half of the year.
The Macan EV is expected to be Porsche’s second all-electric vehicle, due out next year. After that, an electric 718 is planned for 2025, followed by the Cayenne EV in 2026.
Porsche Macan EV is due out in 2024 (Source: Porsche)
Porsche is also developing a premium luxury electric SUV expected to launch in 2027. The company is aiming for 80% of its lineup to be electric by 2030.
Electrek’s Take
Despite CEO Oliver Blume’s claim that “Once again we have posted successful figures while investing extensively in our future at the same time,” Porsche doesn’t have much to show regarding EVs.
Its sole electric vehicle “continued to be particularly affected by the limited availability of parts” in the first half.
Porsche has been claiming that supply chain issues are a thing of the past, but are they? The automaker is sticking to its EV sales target this year, so we will continue to watch the situation as it unfolds.
FTC: We use income earning auto affiliate links.More.
Nexamp just pulled off something that could speed up clean energy deployment across the US – and potentially lower costs for everyone. The Boston-based solar developer just finished building three new solar farms in Maine and Massachusetts. But instead of waiting on the utility to handle all the grid hookup work, Nexamp did it themselves.
That might not sound groundbreaking at first, but in the world of renewable energy, it’s a pretty big deal. Normally, utilities are in charge of any grid upgrades and interconnection work needed before a new solar project can start sending power to homes and businesses. That process can be very slow and expensive.
Nexamp’s new approach, called “self-performance,” flips the script. It lets developers take on some of that work, like ordering and installing equipment, so they don’t have to sit around waiting for the utility to schedule it. That means solar farms can get online faster, which gets clean power to the grid sooner and keeps project costs in check.
The three projects that kicked off this self-performance effort are:
Advertisement – scroll for more content
Hartland Solar – 1.2 MW DC in Hartland, ME
Barre Road Solar – 1.3 MW DC in New Braintree, MA
Summit Farm Solar – 2.6 MW DC, also in New Braintree
Nexamp didn’t go rogue – they worked closely with Central Maine Power and National Grid on the interconnection designs, safety standards, and technical specs. But by handling the actual procurement and construction, Nexamp had way more control over cost, timing, and supply chain headaches.
“Self-performance lets us take much greater control over interconnection procurement and construction,” said Daniel Passarello, Nexamp’s lead consulting engineer for grid integration. “We can move much of the interconnection work forward at the same time as the solar farm build instead of treating them as separate. That helps us bring projects online faster and stay closer to budget.”
It also helps that Nexamp already has solid relationships with suppliers. Instead of going through multiple layers of utility procurement, they can go straight to the source, fast.
That kind of streamlining is exactly what the solar industry needs right now. Community solar is booming – as of the end of 2024, nearly 8 gigawatts of it have been installed across the US, according to the the Solar Energy Industries Association (SEIA), and that number is expected to almost double by 2030. But bottlenecks in the interconnection process slow things down.
Sara Birmingham, VP of state affairs at SEIA, called Nexamp’s move a step in the right direction. “We must modernize and streamline the interconnection process to keep pace with fast-growing demand,” she said. “Self-performance is one of several innovative approaches that can accelerate project timelines and lower costs, which benefits all ratepayers.”
The 30% federal solar tax credit is ending this year. If you’ve ever considered going solar, now’s the time to act. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.
FTC: We use income earning auto affiliate links.More.
Genesis GV90 with coach doors spotted in California (Source: KindelAuto/ TheKoreanCarBlog)
When Genesis first previewed its full-size electric SUV, the coach doors were one of the biggest highlights. It looks like it will actually make its way into the production vehicle. A Genesis GV90 model was spotted in the US for the first time with coach doors, offering a glimpse of the upcoming ultra-luxury SUV.
Genesis GV90 spotted with coach doors in California
We got our first look at the full-size luxury SUV after Genesis unveiled the Neolun concept at the NY Auto Show last March.
Genesis said the concept was its “ultra-luxe vision of luxury SUVs,” and it wasn’t kidding. When it arrives, it will be sold as the GV90 as the brand’s new flagship vehicle.
The GV90 is not just a pretty-looking luxury SUV. It’s also loaded with Hyundai’s most advanced software and tech. According to Luc Donckerwolke, Genesis’ head of creative design, “it’s the epitome of timeless design and sophisticated craftsmanship.
Advertisement – scroll for more content
Last month, we got a sneak peek of the interior after a production-ready GV90 was caught in California. Although somewhat toned down from the original concept, the cabin still featured many of the same elements.
Genesis Neolun ultra-luxury electric SUV concept (Source: Genesis)
Another Genesis GV90 was recently spotted in California, with actual coach doors. The new images from KindelAuto (via TheKoreanCarBlog) show a camouflaged vehicle with a hinge at the rear, where the coach doors will open.
Genesis GV90 with coach doors spotted in California (Source: KindelAuto/ TheKoreanCarBlog)
Genesis said that B-pillarless coach doors are now feasible in production vehicles, like the GV90. However, don’t expect it to come standard on all models.
The feature will likely be reserved for higher-priced trims. We’ve seen other variants, featuring traditional doors, that are being tested in the US and Korea.
Genesis is expected to launch the GV90 in mid-2026. We will learn prices and final specs closer to launch, but the flagship electric SUV is set to debut on Hyundai’s new eM platform.
Hyundai said the platform is designed for EVs across all segments and will “provide a 50 percent improvement in driving range” compared to current EVs. It will also support Level 3 or higher autonomous driving capabilities and OTA software updates.
During the shareholders’ call following the earnings results yesterday, Tesla was asked about what the new affordable model would look like. Tesla’s CFO, Vaibhav Taneja, initially stated that they wouldn’t disclose details about the design, but then Musk interrupted him and said, “It’s a Model Y.”
It’s hard to hear exactly on the call because he talked over Taneja, but he said, “the cat is out of the bag” and confirmed that the new vehicle is simply a Model Y.
Electrek has been reporting on this fact all year. We have known for months that Tesla’s upcoming “new affordable models” are Model 3 and Model Y with a stripped-down interior with fewer features, like no rear screen, and cheaper materials:
However, this fact was not accepted in the Tesla community because CEO Elon Musk falsely denied a report last year about Tesla’s “$25,000” EV model being canceled.
The facts are that Musk canceled two cheaper vehicles that Tesla was working on, commonly referred as “the $25,000 Tesla” in early 2024. Those vehicles were codenamed NV91 and NV92, and they were based on the new vehicle platform that Tesla is now reserving for the Cybercab.
Instead, Musk noticed that Tesla’s Model 3 and Model Y production lines were starting to be underutilized as the Company faced demand issues. Therefore, Tesla canceled the vehicle programs based on the new platform and decided to build new vehicles on Model 3/Y platform using the same production lines.
Now, only the new Cybercab is going to be based on the new unboxed platform.
During the conference call last night, Musk stated that the primary goal of the more affordable Model Y is to expand the market by making the vehicle more accessible to a broader audience. He suggested that it will go on sale in Q4.
I think we can expect changes, such as using cloth materials instead of vegan leather, no rear display, no ambient lighting, and a lesser audio system.
In the case of the Model Y, Tesla may consider dropping some exterior lighting features, such as the light bars.
I wouldn’t be surprised also to see some powertrain changes. Maybe a less powerful RWD motor.
FTC: We use income earning auto affiliate links.More.