Porsche CEO plans for € 6bn profit boost by 2025

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.