Porsche AG Sets High Bar For Electric Vehicles

by Shivani Kumaresan, Benzinga Staff Writer

March 18, 2022 7:04 AM | 1 min read | Make a Comment

Volkswagen AG VWAGY owned luxury sports car maker Porsche AG has set forth an upbeat target for its electric vehicles, Reuters reported.
Porsche said it expects more than 80% of newly sold Porsche vehicles to be fully electric in 2030.
In an annual press conference, its chief finance officer said Porsche had set 15% as its long-term operating margin target.
Earlier, Volkswagen had inked an agreement with its top shareholder to float Porsche in a partial stock market listing to unlock value from the brand.
Analysts estimate Porsche AG could be valued at up to $102 billion in an initial public offering.
Price Action: VWAGY shares closed lower by 0.12% at $24.36 on Thursday.
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