Diesel vehicles will remain important for the brand in the foreseeable future.

There’s no denying Porsche is one of the most technologically advanced companies on the automotive market today. It offers some of the fastest sports cars and has arguably the sexiest hybrid vehicle on sale – the Panamera Turbo S E-Hybrid Sport Turismo. Thankfully, the automaker has no intentions to change that as it faces its biggest challenge in the last couple of decades. It’s called electrification.

In a recent interview, the company’s finance chief Lutz Meschke has explained more about how Porsche will deal with electrification and how it wants to remain hugely profitable during this process. Currently, the German manufacturer enjoys a good 15-percent profit margin.

Porsche goes electric:

“It's a strategic target. We need to structure the company so that it is in position to sustainably achieve that. There can always be years when it might drop to below 15 percent due to exchange rates or an economic crisis, but every worker has to know we are not letting up,” Meschke told Automotive News.

In support of its electrification program, Porsche will invest about $3.5 billion into new EV technologies, aiming to become one of the leaders in hybridization and electrification. But meanwhile, the company will continue to improve its combustion engines and, contrary to previous reports, will continue to sell diesel cars as long as possible.

2020 Porsche Mission E render

“We are keeping all our options open and will tackle specific product decisions as late as possible,” Meschke commented. “Much depends on the extent to which electromobility gains momentum and under what circumstances. Over the course of the next 10 years, we plan to offer optimized combustion engines, plug-in hybrids, and full-electric sports cars in parallel. The first all-electric Porsche is set to hit the road in 2019. And you can be assured that this is only the beginning. We will set standards also in terms of e-mobility.”

Even today, approximately two years after the Dieselgate exploded, half of Porsche’s four-door car sales in Europe belong to diesel-powered vehicles. For this reason, the sports car maker doesn’t “envisage immediately stopping production of diesel vehicles.”

Source: Automotive News

Gallery: 2015 Porsche Mission E concept