Porsche has decided to give up on the diesel business for good. The German auto giant confirmed in a press release today that it’s no longer going to make diesel vehicles. It calls the dropping demand for diesel models one of the reasons why it has made this decision. It points out that the diesel share of worldwide Porsches was 12 percent in 2017.

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Porsche will have invested more than six billion euros in e-mobility by 2022 for more sustainable growth in the future. It’s investment in hybrid models is already paying dividends, 63 percent of Porsche Panameras sold in Europe are hybrid models, the company says.

“Porsche is not demonising diesel. It is, and will remain, an important propulsion technology,” said Porsche CEO Oliver Blume. He pointed out that Porsche is a sports car manufacturer “for whom diesel has always played a secondary role, have come to the conclusion that we would like our future to be diesel-free.”

Those who already own diesel Porsches need not worry as the company will continue to provide support and service. Porsche will continue to look after its diesel customers “with the professionalism they expect,” according to Blume. Porsche is also gearing up to launch its first purely electric sports car to the market next year. It’s called the Taycan.

Filed in Transportation. Read more about . Source: newsroom.porsche

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