“We believe Porsche is at the sweet spot of the luxury car BEV transition.” So said Lutz Meschke, then chief financial officer of Porsche, at the company’s bullish capital markets day in 2022.
Back then, optimism abounded among executives that the storied Volkswagen Group brand could springboard from its successful launch of the Taycan saloon into an electric, high-tech expansion that would allow margin-swelling price increases and send its soon-to-be-listed stock soaring.
Roll forward just three years and the brand’s electric dream is now in tatters.
