Porsche CEO plans for € 6bn profit boost by 2025

Muscat Daily - - BUSINESS -

Porsche AG is plan­ning to boost its prof­its by € 6bn by 2025 as it re­duces costs and fo­cuses on dig­i­tal devel­op­ment, CEO Oliver Blume told Ger­man mag­a­zine

Au­to­mo­bil­woche in an in­ter­view.

“On the cost side, it’s about re­duc­ing com­plex­ity in drive vari­ants, more com­mon parts be­tween the dif­fer­ent se­ries, less phys­i­cal pro­to­types and more dig­i­tal devel­op­ment,” he said. By 2025, “We want to tar­get an ad­di­tional an­nual profit con­tri­bu­tion of € 2bn.”

Blume said Porsche’s 32,000 employees would re­main un­af­fected by the plans, and that the com­pany plans to hire 1,500 more staff for its elec­tric-pow­ered Tay­can model.

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