In a drastic shift of plans, Porsche’s upcoming EV lineup may not be so electric after all. The luxury brand plans to launch a new series of gas-powered vehicles and hybrids as it deals with slowing EV sales.

Porsche shifts EV plans with gas and hybrids coming

After backing off its goal of having electric vehicles account for 80% of total sales by 2030 in July, it looks like Porsche is backtracking on more EV initiatives.

With sales of its sole EV, the Taycan, down 50% through the first nine months of 2024, Porsche CFO Lutz Meschke acknowledged on the company’s Q3 earnings call that it is seeing “a slowdown in the BEV transition.”

Porsche’s struggles are not limited to just China, where an influx of more advanced, low-cost competitors are flooding the market, but also Europe and the US. The slowdown comes despite Porsche launching the upgraded 2025 Taycan earlier this year with more range, performance, and enhanced design.

Meschke told investors, “A lot of customers, first of all, in the premium and luxury segment are looking in the direction of combustion engine cars.”

As a result, Porsche plans to launch a series of new gas and hybrid models. The company’s CFO explained “We will refresh also our combustion engine cars. For instance, the Panamera and the Cayenne.”

The shift comes as deliveries of the first electric Porsche Macan are still ramping up. With its first full sales quarter, Porsche expects to see higher EV demand in the fourth quarter.

Despite the second-gen Macan launching exclusively as an EV, Porsche now plans to keep the gas-powered Model alive in key markets, including the US.

Porsche teased the upcoming electric Cayenne this summer, but the company also said gas and hybrids are in the works.

Following the Macan EV, Porsche will launch an electric 718, which is expected to debut later this year. The highly anticipated Porsche Cayenne EV is scheduled for its big debut in 2026. After that, Porsche plans to launch an ultra-luxury electric SUV to sit above the Cayenne, codenamed “SUV K1” internally.

Source: Automotive News, Porsche AG

Elon Musk fired back at California Governor Gavin Newsom who said the state might exclude Tesla from a new EV incentive meant to replace the federal one Musk is trying to kill.

The knives are out.

As we previously reported, Trump’s transition team has already been strategizing about how to repeal the Inlfation Reduction Act and more specifically, the updated federal tax credit for electric vehicles.

Elon Musk is supporting the move even though he admitted that it would hurt EV sales in the US, including Tesla’s, but he believes long term it would help Tesla, which has a more competitive cost structure than other EV manufacturers who could fail without the credits – much like Tesla could have failed with them just a few years ago.

Recently, we even learn that Tesla, which lobbied to get the new federal tax credit, is also now lobbying for Trump to remove it.

Yesterday, we reported that California announced that if the federal tax credit does go away under Trump next year, it will step in with its own extra credit to compensate for it.

Governor Gavin Newsom has since elaborated on the proposal to add a market-share limitation criteria for EVs that would exclude Tesla, which has the most EV market shares in the market. The goal is reportedly to “create the market conditions for more of these car makers to take root.”

Tesla CEO Elon Musk called the proposal “insane”:

Tesla is the only one making cars in California, so this move hurts jobs in California.

Tesla employs many people in California, especially at its Fremont factory in the Bay Area, but it also employs engineering and design teams in both southern and northern California.

It sounds like Musk, who is lobbying to remove the federal tax credit, believe that Tesla might have to cut jobs in California if this plan is executed.

Electrek’s Take

As you know if you have been following my commentary on Musk using and not using his influence on Trump to advance EVs in the US, I am really disappointed in him pushing to kill the federal tax credit.

It will undoubtedly slow down EV adoption in the US, which is already lagging behind the rest of the world, and it feels like Tesla is pulling the very useful ladder it itself used just as it doesn’t need it as much and other EV companies greatly need it.

That said, I’m not sure I agree with Newsom’s approach here. Before the Tesla exclusion was discussed, I actually tweeted this:

Since the goal is to replace the federal tax credit, I think it makes sense that California would exclude anyone company who is lobying against it, like Tesla, rather than just because of market shares. They are asking for it, after all.

I think it’s a better reason to exclude them than just: you guys already have too high market shares.

You want to slow EV adoption to gain a competitive advantage, then that’s what you get. Musk couldn’t complain about that without being a hypocrite – though that doesn’t seem to be a big concern for him these days.

The Events and Transportation Department at UCLA has secured a grant from the state of California totaling nearly $20 million. The funding will be used to transition the university’s bus fleet to 100% electric vehicles, expand service, and fund California’s first in-road EV charging system with the help of Electreon.

UCLA is one of the more prominent universities in the Los Angeles Metropolitan area and wields its presence in
California by promoting sustainable technologies. The school recently shared plans to electrify its entire campus transit service, BruinBus, in anticipation of the 2028 Olympic and Paralympic Games, which will take place around its home city.

Recently, UCLA announced the award of a grant that will help make its transition to electric buses possible. The grant will also enable the deployment of a wireless in-road EV charging program with Electreon—the first of its kind in California.

California’s first in-road EV charging is coming to UCLA

UCLA Events and Transportation shared details of the new grant from the California State Transportation Agency’s Transit and Intercity Rail Capital Program, totaling $19.85 million. The grant was awarded in collaboration with  CALSTART — a nonprofit dedicated to accelerating clean transportation in California, wireless charging provider Electreon.

Currently, UCLA’s BruinBus routes connect students across residential neighborhoods, the Westwood Village commercial district, Ronald Reagan UCLA Medical Center, academic buildings, and other facilities around campus.

Per UCLA, the grant will expand its fleet of five all-electric buses and an all-electric passenger van by adding another eight EV buses. Additionally, Electreon will install inductive charging coils below the road along routes on Charles E. Young Drive between the Westwood Plaza intersection and Murphy Hall.

A first-of-its-kind in California, Electreon’s wireless EV charging technology (seen above) will enable electric passenger shuttles and heavy-duty buses to recharge while driving atop those routes. Electreon has already successfully deployed the same technology along routes in Detroit and recently announced an expansion of the services to support commercial delivery vehicles.

Additionally, UCLA will install static wireless charging spots at passenger pick-up and drop-off locations and transit depots, including a new transit hub between the UCLA bus depot and the planned UCLA/Westwood station. Per Clinton Bench, director of UCLA Fleet and Transit:

The new transit hub and extension will be a game-changer for connectivity in Westwood. It will make it easier for everyone to travel between UCLA and key destinations throughout Los Angeles, especially as the city prepares to host the Olympics, thereby fostering a more integrated and accessible urban landscape.

The electrified bus fleets and wireless EV charging areas are expected to be fully operational in California in time for the 2028 Olympic and Paralympic Games in Los Angeles.