Luxurious new K1 SUV added to Porsche EV charge, Cayenne to go electric

March 15, 2023March 18, 2023 EV Central team 3659 Views K1, porsche

A luxurious new electric seven-seat SUV to sit above the soon-to-be-EV Cayenne SUV has been confirmed by Porsche as part of its increasingly electrified future model mix.

Codenamed K1, the new EV will be based on the SSP Sport architecture being developed by Porsche for the Volkswagen Group and arrive as soon as 2027.

SSP is separate to the PPE architecture also under development and is said to be capable of delivering a 920V electric architecture to speed charging and provide more power.

The K1 was confirmed by Porsche Chairman Oliver Blume (pictured above) at the annual press conference of the company this week to announce financial results – the first since it listed on the stock exchange in 2022.

Blume said the SUV would have significant sales growth potential in the China and the USA. It will not only be larger than the Cayenne it will be more expensive as well.

The Mercedes-Benz EQS SUV and BMW iX are logical rivals and it could also compete with the upcoming Volvo EX90 and Polestar 3.

“It is about a new vehicle concept, but the flyline typical for Porsche, impressive performance, automated driving functions and a new interior experience,” he said.

A battery electric Cayenne SUV was also confirmed at the conference by 2026, while the arrival of the electric 718 Boxster and Cayman sports car was reaffirmed for mid-decade and the BEV Macan is on-sale in 2024.

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Both the Porsche Macan and 718 BEVs will launch in parallel with the ICE versions, Blume confirmed.

“In the medium run the 718 will be exclusively available as an all-electric model,” he revealed.

The new BEVs will join the existing Taycan electric family in Porsche’s line-up.

Porsche also announced the new-generation ICE Cayenne launching in 2023 would include three plug-in hybrid variations with larger batteries that extend EV range to 80km.

The Panamera PHEV will also gain a larger battery pack.

Blume talked up the development of e-fuels, which will be critical to Porsche keeping the ICE-powered 911 sports car in its line-up.

Porsche Macan EV development vehicle undergoing testing

Porsche’s aim is to have more than 80 percent of its sales claimed by BEVs in 2030.

To sustain its EV development investment and push toward a 20 percent return on sales under its new Road to 20 strategy, Porsche has separately confirmed significant price increases for all models are on the way.

“We will see significant price increases in the middle of the year for the new model year. That will help a lot to make sure we make strong group operating margins,” Porsche finance chief Lutz Meschke told analysts.