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Porsche said it is investing to expand its EV portfolio. The company has started production of a new electric crossover, the Porsche Taycan, this year. Porsche said it will also introduce a new electric sports car, the Porsche 911 Technology Prototype, in 2024.
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“We are committed to playing a leading role in electric mobility. We believe that EVs are the future and we want to lead in this area,” said Ole Kalensson, CEO of Porsche.
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Porsche’s announcement is in line with a growing trend of automakers globally investing in electric vehicles. Several other major automakers, such as Volkswagen, BMW and Mercedes-Benz, are also planning to expand their EV portfolios.
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Porsche’s announcement is also significant for India, where the EV market is growing rapidly. The Government of India has planned to achieve the total 20 percent target of electric vehicles by 2030.