Porsche cuts 500 jobs and pulls back from electric vehicles

Porsche cuts 500 jobs and abandons the electric car: the signal nobody wants to see

Porsche has announced the elimination of 500 jobs at its battery and software subsidiaries, along with a strategic shift towards prioritising the sale of its high-margin combustion models, such as the Cayenne and the Macan. The news, confirmed by The Objective, confirms what many analyses had already been pointing to: the luxury electric car is not taking off among those who can actually afford it.

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The wealthy customer doesn't want a battery-powered Porsche

In economic discussion forums, one conclusion keeps coming up: people with real purchasing power avoid high-end electric cars. While mainstream brands push ahead with electrification, Porsche, Ferrari and Lamborghini are putting the brakes on their plans. The logic is ironclad: if a Porsche buyer values the sound, the engineering and the exclusivity, an electric motor and a battery simply don't fit into their scale of desires. One user noted that "the poor will end up on scooters or in cheap battery-powered cars, while the rich will keep enjoying combustion engines." Environmental regulation, they predict, will be enforced with varying severity depending on purchasing power.

Chinese competition, the other burden

But it's not just cultural rejection. The economic argument also weighs heavily: an electric Porsche, such as the Cayenne announced at 112,000 euros, faces Chinese models offering similar performance for a fifth of the price. In independent comparisons, Chinese EVs "wipe the floor" with the ones from Stuttgart, as analysts put it. Porsche knows this: it prefers to focus on where its brand remains untouchable — high-margin combustion SUVs — rather than compete in a segment where the price premium cannot be justified.

The job cuts are no minor adjustment: they affect the divisions that were supposed to underpin the brand's electric future. The decision shows that forced electrification is not a bed of roses, not even for premium manufacturers. The question left hanging is how long they can sustain this strategy before Brussels starts tightening the screws.

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