Don’t worry, the brand's lineup isn’t going full electric anytime soon.

Porsche officially joins the band of carmakers that are turning their backs to making diesel-powered cars. The culprit? The significant increase in demand for electrified vehicles, especially in Europe.

In an official statement from Porsche, the sports car-maker is going all-in when it comes to e-mobility – six-billion euros (around seven billion dollars) to be exact, which will be projected to take effect by 2022. This will be the basis for sustainable growth into the future, said the carmaker.

Update:

The increased investment in electrified vehicles has concrete numbers to back it up. Porsche said that 63 percent of the Panameras sold in Europe are hybrid models. At the far end of the spectrum, the demand for diesel-powered Porsches is dropping, in which the sports car-maker cited that the global share of diesel Porsches was only 12 percent in 2017.

With these numbers, it’s smart for the marque to abandon diesel, moving forward. Besides, why would Porsche make cars that fewer people are buying, right? Moreover, its first all-electric sports car, the Taycan, seems promising and about to take the world of performance vehicles by storm.

The future of diesel:

“Porsche is not demonizing diesel. It is, and will remain, an important propulsion technology. We as a sports car manufacturer, however, for whom diesel has always played a secondary role, have come to the conclusion that we would like our future to be diesel-free. Naturally, we will continue to look after our existing diesel customers with the professionalism they expect,” says Oliver Blume, CEO of Porsche AG.

While diesel is now out of Porsche’s portfolio, those who aren’t ready to accept electrified cars, along with sports car purists, are still in the priority of the Stuttgart-based carmaker. The marque will continue to optimize its gasoline-powered internal combustion power plants, citing that “emotional and powerful sports cars will thus continue to play an important role in the Porsche product portfolio.”

For the record, Porsche isn’t the first automaker to cancel diesel in its future vehicles. May it be because of the diesel-gate scandal that the Volkswagen group’s currently sorting out, or the demand from customers themselves who are now either choosing gasoline-powered cars or electrified vehicles, it’s not looking good for diesel fuel for the years to come.

Source: Porsche

Gallery: Porsche Taycan Exclusive Rendering

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Porsche drops diesel

Porsche has always matched its product range to its customers’ requirements and the pursuit of technological excellence. That is why the sports car manufacturer is intensifying its activities in the areas of hybrid technology and electromobility and will, in future, no longer offer vehicles with diesel propulsion.

By 2022, Porsche will have invested more than six billion euros in e-mobility, creating the basis for sustainable growth into the future. Interest in hybrid models is already taking off. 63 percent of the Panameras sold in Europe, for example, are hybrid models. Demand for diesel models, on the other hand, is dropping. In 2017, the diesel share of worldwide Porsches was 12 percent. Porsche has not had a diesel in its portfolio since February of this year. Due to this change in conditions, the company has decided to no longer offer diesel propulsion in future.

“Porsche is not demonising diesel. It is, and will remain, an important propulsion technology. We as a sports car manufacturer, however, for whom diesel has always played a secondary role, have come to the conclusion that we would like our future to be diesel-free. Naturally we will continue to look after our existing diesel customers with the professionalism they expect,” says Oliver Blume, CEO of Porsche AG.

With the Taycan, Porsche will bring its first purely electric sports car to the market in 2019 – its manufacture is CO2 neutral and it is supplied with green electricity via an ultra-fast charging infrastructure spread over Europe. By 2025, every second new Porsche vehicle could have an electric drive – either hybrid or purely electric. The sports car manufacturer is also concentrating on optimised internal combustion engines. Purist, emotional and powerful sports cars will thus continue to play an important role in the Porsche product portfolio.

Blume stresses: “Our aim is to occupy the technological vanguard – we are intensifying our focus on the core of our brand while consistently aligning our company with the mobility of the future.”