Porsche profits crash after costly EV strategy U-turn
The automakers operating profits plunged nearly 93% after scrapping an all-electric vehicle program
German luxury carmaker Porsche AG has reported a sharp drop in operating profits following a costly pivot away from its long-term EV strategy amid mounting challenges facing the EU's auto sector.
The automaker booked extraordinary expenses totaling about €3.9 billion ($4.5 billion) in 2025, w