Porsche Mulls Cutting Electric Sports Cars to Rein In Budget

Source: Porsche AG Porsche AG is considering shelving an electric sports car line to cut costs that have ballooned due its overly ambitious EV bet, according to people familiar with the matter. New Chief Executive Officer Michael Leiters may scrap the planned 718 line of Boxster and Cayman EVs because of development delays and rising expenses, said the people, who declined to be named discussing internal deliberations. Most Read from Bloomberg The gasoline versions of the two models for years proved a ...