Porsche’s commitment to 718 EVs hit potholes when the automaker announced plans to integrate its top models with internal combustion engines. Now, whispers from Stuttgart suggest that the company might axe the 718 Boxster and Cayman EV models; they might never hit showrooms after all.
The all-electric 718 twins were initially supposed to hit roads in 2025, positioned as the next big thing in the company’s lineup. However, a new Bloomberg report suggests that Porsche’s new CEO, Michael Leiters, who took office on January 1, 2026, is considering scrapping the 718 line.
A promising EV future hits a speed bump
But what happened all of a sudden? Mounting development costs, significant delays, and declining global demand for premium EVs are among the primary reasons discussed in the report.
Porsche initially built the new 718 models on an EV platform. However, when the automaker decided to retain gas/hybrid options in late 2025, its engineers had to reverse-engineer the chassis to accommodate the crucial ICE powertrain components (engines, fuel tanks, and exhausts), which reportedly cost around $1.96 billion.
The delays stemmed from persistent glitches and development issues in Porsche’s software division, the 2025 bankruptcy of Northvolt (the automaker’s key battery partner), and the complexity of integrating a hybrid powertrain into a chassis designed for batteries and motors.
China’s cooling luxury market and what it means for Porsche
Finally, the company didn’t do as well in China, selling 26% fewer cars in 2025 than in 2024; local customers are moving toward domestic options like the Xiaomi SU7. Sales of the company’s first EV, the Taycan, dropped by around 21% in 2025, indicating that even core enthusiasts aren’t adopting EVs as quickly.
With the company burning through development costs faster than a 911 Turbo down the Autobahn and luxury-car sales softening in key markets like China, Porsche could take its foot off the EV accelerator and focus on profitability. That’s why the company’s board members are wondering whether to cut the electric 718s entirely or delay them further.
Whether the company will stay true to its electrification promises or bow to rising development costs (and lower operating profits) is something we’ll find out in the near future.