According to Porsche’s CFO, Lutz Meschke, the European Union could delay its aspiring plan to ban the sale of new Internal Combustion Engine-powered cars by 2025.
He explained that the general slowdown in the number of Electric Vehicles purchased by Europeans could cause a major rethink by the European Union.
The UK has been forced to rethink and push back its original ICE ban from 2030 to 2035.
Lutz Meschke has said he believes the ceasing of incentives has significantly impacted sales, which is strange Porsche would have been affected only if they qualified due to their price.
Porsche has invested heavily in E-fuels technology; in Porsche’s home market, the German government is urging Brussels to protect E-fuels against the forthcoming ban.
However, any delay could exacerbate the argument for EVs.
Delaying the roll-out of infrastructure and charging networks may negatively impact sales.
Leading to supply chain issues and increasing costs, factors the EV industry can well do without.
The delay could also affect the roll-out of vital EV infrastructure, such as charging networks, and may influence consumer and business decisions regarding the transition to electric vehicles.
Additionally, the delay may impact the supply chain for ICE vehicles, leading to increased costs and complexity in securing these vehicles over time.
Additionally, the average retail price of a battery electric vehicle (EV) in Europe far exceeds (75%) the cost of buying an EV in China.
Buying an EV in Europe is 146% more expensive than buying the cheapest combustion vehicle in Europe, whilst, in China, the most affordable electric vehicle is 8% cheaper than the cheapest ICE car.