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Porsche will launch new gas-powered and plug-in hybrid (PHEV) cars as its EV models fail to gain traction. The sports car maker warned that the new combustion engine models and battery development expenses would hurt profits this year, sending share prices plunging.

Porsche plans new gas-powered cars to boost profits

After announcing that it expects profit margins to be between 10% and 12% this year, Porsche said it’s taking “extensive measures” to boost short and medium-term profits.

The forecast is well below Porsche’s long-term goal of an operating return on sales of more than 20%. To boost profits, the company announced plans to add new gas-powered (combustion engine) and plug-in hybrid vehicles to its lineup.

Porsche warned the new models and additional battery investments would take a hit on profits this year, costing an extra 800 million euros ($830,000).

The shift comes after Porsche’s deliveries fell 3% last year, with China, one of its most important markets, leading the downfall. Deliveries in China plunged 28% as it failed to keep up with domestic EV makers like BYD, Xiaomi, and XPeng.

Porsche-Taycan-EV
New 2025 Porsche Taycan GTS (Source: Porsche)

Last week, Porsche said it was in talks over ending contracts for CFO Lutz Meschke and Detlev von Platen, head of sales and marketing.

After introducing the upgraded 2025 model last year, Porsche delivered just over 20,800 Taycan models, nearly 50% fewer than in 2023.

Porsche-gas-powered-cars
Porsche Macan EV (Source: Porsche)

Porsche also began deliveries of its second electric vehicle, the Macan, at the end of September. This vehicle should help provide some relief this year. The company said the Macan EV launch “literally electrified us” after delivering over 18,000 models by the end of 2024.

Following the updated guidance, Porsche’s stock suffered one of its worst days since listing in 2022. Porsche, which was once valued higher than parent company Volkswagen, has watched its market cap dwindle in half from an all-time high in May 2023.

Electrek’s Take

Porsche wants to improve profits by adding new gas-powered cars, but this will likely only set it back further. The sports car maker is already struggling to keep up with BYD and others in China, which was its second-largest sales market in 2023, behind North America.

Taycan sales fell to just 4,747 in the US last year, 37% less than Porsche sold in 2023. Although the new model year rolling out is part of the reason, even Q4 sales were over 40% lower than the year before, at just 1,353 units.

With pure EV makers like Lucid and Rivian gaining momentum and others like Volvo, Genesis, and GM’s Cadillac launching new models, Porshe could lose out in the long term.

The situation is even more severe in China, where BYD, Xiaomi, and other domestic automakers are squeezing foreign brands out of the market.

Xiaomi, which began delivering its first self-developed EV, the SU7, last April, delivered over 135,000 models in 2024. This summer, it will launch its second EV model, the YU7.

Meanwhile, recent reports suggest Porsche could delay more electric models, including the Cayenne EV, due out in 2026.

Putting short-term profits ahead of long-term brand building could set Porsche up for failure. The company has already backtracked on its goal of having 80% of global deliveries electric by 2030, so what’s next?

Will Porsche turn things around? Or will it continue losing market share as the industry shifts to EVs? Drop us a comment below and let us know your thoughts.

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E-quipment highlight: Komatsu PC20E-6 electric mini excavator

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E-quipment highlight: Komatsu PC20E-6 electric mini excavator

Japanese equipment giant Komatsu has added a not-so-giant electric excavator to its growing lineup of battery-powered construction equipment. The new Komatsu PC20E-6 electric mini excavator promises a full day of work from a single charge.

Komatsu says the design of its latest mini excavator was informed by data sourced from more than 40,000 working days of comparably-sized diesel excavators. The company found that, in 90% of its global customers’ mini excavator deployments, these vehicles are in active use for less than 3.5 hours per day.

“This defined the target for the required, reliable working time with the excavator,” reads the Komatsu web copy. “This result makes it possible for Komatsu to offer an attractively priced machine with a performance that exactly matches the requirements.”

Keeping costs down are relatively conservative specs. Komatsu chose to power the PC20E-6 with a 23.2 kWh battery pack sending electrons to an 11 kW (~15 hp), high-torque electric motors. Not exactly super impressive on paper, but the machine has an operating weight of 2,190 kg and enough juice for up to four (4) hours of continuous operation.

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More than enough, in other words, to have completed 90% of of those 40,000 work days the company analyzed.

Getting it done


PC20E-6 electric mini excavator; via Komatsu.

If, for some reason, that four hours’ runtime isn’t enough, an on-board charging option for 230V and 3kW charging power compatible with various plug adapters is standard, with an external DC quick charger for 400V and 12 kW charging as optional. In either case, it won’t be long before the machine is back at work.

To help the later adopters sleep well about their battery-powered investments, the PC20E-6 ships with Komatsu’s E-Support maintenance program, which includes free scheduled maintenance by a Komatsu-trained technician, a 3 year/2,000 hour warranty on the machine, plus a 5 year/10,000 hour warranty on the electric driveline. The company says the battery should last 10 years.

“The Komatsu E-Support customer program is included free of charge with every market-ready electric mini excavator and offers exclusive machine support,” said Emanuele Viel, Group Manager Utility at Komatsu Europe. “The bottom line is that the risk for the end customer is significantly reduced, especially when it comes to exploring the electrification advances in the industry.”

Komatsu hasn’t released official pricing quite yet, but has revealed that the P20E-6 will begin series production this October.

SOURCE | IMAGES: Komatsu.


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Tesla unexpectedly ends contract at Giga Texas, letting go 82 people

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Tesla unexpectedly ends contract at Giga Texas, letting go 82 people

Tesla has unexpectedly terminated a contractor’s contract at Gigafactory Texas, resulting in the layoff of 82 workers who were supporting the automaker’s production at the giant factory in Austin.

MPW Industrial Services Inc., an Ohio-based industrial service provider specializing in cleaning and facility management, has issued a new WARN notice, confirming that it will lay off 82 workers in Texas due to Tesla unexpectedly ending its contract with the company.

Here are the details from the WARN notice:

  • State / agency: Texas Workforce Commission (TWC).
  • Notice date: August 27, 2025.
  • Employees affected: 82
  • Likely effective date: September 1, 2025
  • Context from the filing/letter: layoffs tied to an unexpected termination of a major customer contract (Tesla—Gigafactory Texas, 1 Tesla Road); positions include 61 technicians, 7 team leads, 7 supervisors, 7 managers; no bumping rights; workers not union-represented.

In April 2024, Tesla initiated waves of layoffs at the plant, resulting in the dismissal of more than 2,000 employees in Austin, Texas.

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Since then, Tesla’s sales have been in a steady decline. While the automaker is expected to have a strong quarter in the US in Q3 due to the end of the tax credit, sales are expected to decline further in Q4 and the first half of 2026.

Many industry watchers have expected Tesla to initiate further layoffs due to the situation.

Electrek’s Take

We may be seeing the beginnings of a new wave of layoffs at Tesla, as the automaker typically starts with contractors.

To be fair, Tesla could also potentially end the contract unexpectedly for other reasons, but the timing does align with the need to cut costs and staff ahead of an inevitable downturn in US EV sales.

I think it’s inevitable that we start seeing some layoffs. I think Tesla will have to slow down production in the US to avoid creating an oversupply, especially in Q4-Q1.

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After e-bike fury, suburban pearl-clutchers set their ire on golf carts

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After e-bike fury, suburban pearl-clutchers set their ire on golf carts

First, it was e-bikes, offering an efficient, effective, and low-cost way for teens and just about everyone to zip around town, yet drawing the temper of suburban traditionalists. Now golf carts are the new public enemy number one in suburbia, at least if you ask the growing number of online groups where residents complain about these small electric vehicles “clogging” their streets.

But beyond the hand-wringing, golf carts and their more sophisticated cousins known as Neighborhood Electric Vehicles (NEVs) or Low Speed Vehicles (LSVs), are quietly becoming a popular alternative to cars for short trips around US cities and suburbs.

While most people still associate golf carts with retirement communities in Florida or slow rides across 18 holes, street-legal versions have been around for the last few decades.

But these aren’t your grandpa’s bare-bones carts, complete with a golf pencil clip. Many now come with DOT seat belts, lights, turn signals, mirrors, backup cameras, and speed limiters that allow them to operate legally on roads up to 35 mph, as long as they meet all the federal requirements for Low-Speed Vehicles (LSVs).

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That means such vehicles are legally allowed to operate like cars, trucks, bicycles, or motorcycles on the vast majority of residential streets and a surprising portion of urban grids. In other words, for grabbing groceries, school drop-offs, or cruising to a friend’s house, they’re a practical, cheaper, and far greener substitute for firing up a 5,000-pound SUV.

The Club Car Cru adds extra luxury to the concept of an LSV

Golf carts have been slowly taking off for years, but the pandemic accelerated the trend. Sales of golf carts and LSVs spiked as families looked for safe, outdoor transportation and an easy way to get around their neighborhoods. Now, in cities all over the country, the sight of parents driving their kids to school or running errands in a cart is increasingly common. In some towns, petitions have even popped up with hundreds of residents asking for local ordinances to legalize them on more streets, according to the Daily Mail.

Of course, not everyone is thrilled. There’s growing backlash against the increase in golf carts on streets, with many residents calling them a “plague” and complaining that they’re taking up space on the roads, in parking lots, or creating unsafe conditions. While rare, there have been serious accidents too, with a handful of tragic cases highlighting the dangers of mixing small, lightweight carts with full-size vehicles. Critics argue that carts lack the crash protection of cars and don’t always fall under homeowners’ insurance policies if an accident happens.

But for every critic, there’s a supporter pointing out that golf carts take cars off the road, save money on fuel, and are no more dangerous than scooters or e-bikes – modes of transport that already share the streets. And major golf cart makers have been happy to respond to the demand with boosted sales and new models. Companies like E-Z-GO, Club Car, WAEV, Kandi, and others are all rushing new models to the market as more suburban commuters discover that their next electric vehicle might just cost a fraction of what they thought it would – and come with a better breeze, too.

The GEM microcars are classic LSVs that have brought smiles to families’ faces for decades

Electrek’s Take

If I didn’t know any better, I’d say it’s like the Karens are just following me around to poo-poo on any alternative vehicle I happen to drive that week. They’ve hit all my favorites. Pretty soon, they’ll be coming for my electric tractors, too!

But seriously, this feels like déjà vu. The same arguments we’ve heard for years against e-bikes are now being recycled against golf carts: too unsafe, too disruptive, too “different” from the car-centric status quo.

But the reality is, again, quite the same as e-bikes. These are small electric vehicles that make a ton of sense and are totally street legal, at least when they’re built correctly to conform to the proper laws.

They come with a lot of the same benefits, too. They’re cheap to operate, easy to park, perfect for short trips, and they prevent larger cars from needlessly clogging residential streets. Will they ruffle feathers among the kind of folks who have had one too many frisbees land in their yard? Perhaps. But much like e-bikes, their popularity is only going one direction – up.

I leave you with a few images of perhaps my favorite of all, the Kandi Mini. The nay-sayers can pull it from my cold, dead, golf

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