Porsche's EV Ambitions Stall After Steep Stock Drop ...Middle East

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Porsches EV Ambitions Stall After Steep Stock Drop
source : OILPRICE ( Middle East ) () 80
Porsche AG shares fell almost 10% last week—the steepest drop since its 2022 debut—after the carmaker scaled back its electric-vehicle ambitions. The stock is down nearly 30% this year and will fall out of Germany’s benchmark DAX index. Parent company Volkswagen also slid 8.4%, its sharpest drop in more than two years, according to Bloomberg. The 911 maker scrapped plans for a battery-powered luxury SUV and will instead expand its lineup of combustion-engine and hybrid cars. The shift triggered a €1.8 billion hit to operating…

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