Porsche is holding on to gas cars for a bit longer

Porsche is not ready to turn in its gas caps for charging ports just yet. The company reportedly plans to launch more internal combustion engine models due to a slowdown in EV sales, according to Automotive News Europe. The automaker’s CFO, Lutz Meschke, told the outlet, “What is clear is that we are sticking with the combustion engine for much longer.”

As Car and Driver notes, he also said there’s a “clear trend in the premium luxury segment” that is leaning towards gas engines, and as a result, Porsche will “react” in its product cycle.

Porsche sells two pricey electric vehicles: the Taycan and the recently launched Macan. It planned to bring more EV-only models, including a Cayenne, 718, and a new high-performance SUV. But now Meschke says Porsche might make hybrid drive or combustion engine versions of those EVs and are “in the middle of making conceptual decisions.”

Porsche previously aimed to have 80 percent of its sales be electric models by 2030. The company pushed out a RWD Macan and redesigned Taycan this year as its EV sales cratered in the US, and it’s also not doing too well in China, where domestic brands are making cheaper EVs.