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New Delhi: Porsche could be discontinuing their 718 Cayman and Boxster projects. The carmaker has a new CEO, Michael Leiters, at its helm from the start of this year, and he has been considering stopping the development of the two sports cars that had been lined up.
According to reports from Bloomberg, people who are in the loop with the latest development have told the publication that the electric 718’s rising costs and increasing delays are pulling down the project. Porsche ended the last generation of 718 production in October with plans to bring the EVs later this year.
There had been rumours going around the project for quite some time, starting in December 2024, when one of the engineers was quoted in a report that the project was “way behind schedule”. Another report came last year, which claimed that Porsche had to pause development owing to Nothvolt’s bankruptcy.
In September last year, the brand had confirmed that the next-generation of the 718 would continue with internal combustion engine power. These would be at the top of the model portfolio, above the electric version, which presently is hanging on the string. Porsche hasn’t officially said anything about this matter yet.
Porsche’s electric portfolio is quite strong, but for a while, the brand has been taking in some sales hits in China and the USA due to new tariffs, both of which are amongst their top three markets. With financial instability, it makes little sense to keep pouring money into cars that buyers might not find most interesting. Leiters replaced Oliver Blume as investors wanted to address Porsche’s struggle.
