Luxury high-performance sports car carmaker Porsche has announced that it is abandoning its electric vehicle targets due to sluggish EV demand. Porsche is the latest in a growing list of established automakers that made ambitious electrification plans but have been forced to scale back amid falling electric vehicle demand and slowed EV uptake. With consumers in most major markets dealing with high interest rates and rising living costs, very few are willing to spend tens of thousands of dollars more for an EV.
Porsche was looking to crack into the luxury EV market with the Porsche Taycan EV, but the German automaker is going back to the drawing board after….
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