Since 2024, major OEMs getting cold feet over electrification is nothing new. When Porsche announced in its 2025 financial plan that expanded internal combustion engine (ICE) and hybrid product offerings were on the way, it characterised this as a move to strengthen short- and medium-term profitability. The shift to battery electric vehicles (BEVs), the automaker told Reuters in July 2024, is “taking longer than we thought five years ago.”

And yet, Porsche’s full-year 2024 results show sales growth for practically every market in which it operates, and the brand acknowledges that appetite for electric sports cars is healthy. So, why the tacit concern about needing to bolster sales with ICE and hybrids? The answer might lie in the one market where Porsche isn’t growing, and the one that ultimately dragged its deliveries to -3% year-on-year: China.

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