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Porsche confirms Cayenne EV and second, larger all-electric SUV

Credit: Porsche

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Porsche announced two upcoming EVs at its earnings event today and revealed that it achieved record earnings during 2022.

Porsche has had a lot of great news to deliver to investors since its IPO late last year. Following Porsche’s IPO, the brand doubled down on its electrification strategy with the announcement of the Macan EV and has even become the most valuable automaker in Europe. Today’s earnings announcement was, luckily, more good news. The German brand announced that it had achieved record earnings in 2022 and revealed two new EV models, a Porsche Cayenne EV and an unnamed EV SUV placed above the Cayenne.

While some of Porsche’s EV projects, including the Macan and 718 EVs, have become well-known, little has been said about the premium automaker’s largest offering, the Cayenne. And sadly, other than the brand confirming its existence and its post-2025 launch date, very little was released. Porsche stated that the vehicle would be based on its SSP platform, but even the platform’s details remain under wraps.

The second EV Porsche announced is described as “positioned above the Cayenne,” which will likely be a larger and more luxury-oriented product compared to the Cayenne. This vehicle could compete with upcoming Land Rover EVs, an EV Cadillac Escalade, or other massive three-row electric SUVs. The release date of this second SUV was not specified, but it will likely follow the introduction of the Cayenne EV in the second half of this decade.

More details are known about the smaller upcoming electric Porsche offerings, including the Macan EV coming in 2024 and the 718 EV coming in 2025. With the details about these vehicles, estimating the specifications for both upcoming electric SUVs may be possible.

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Due to the sheer size of the Cayenne and its upcoming bigger brother, we can anticipate the batteries to be used to swell well above the 100kWh size found in the upcoming Macan. Furthermore, with such massive vehicles, both will likely be offered with dual motor drive trains as a minimum, with tri or quad-motor variants potentially being used for higher trim “Turbo” versions. Finally, along with their eye-watering curb weights, many anticipate both vehicles to have jaw-dropping price tags, matching or exceeding the price of the current gas-powered Cayenne.

Outside of the announced EVs, Porsche had more good news for investors. Not only had the brand achieved record earnings, but also a record profit margin of 18%. Europe’s most valuable car maker will aim for a profit margin of 20% in the coming years. Following this good news, Porsche is considering implementing a dividend of 1 euro per share or 1.01 euros per preferred share.

Thanks to the SUV market’s sheer size and the Cayenne platform’s previous success, there is no wonder Porsche is looking to electrify it next, especially as it aims for 80% EV sales by 2030. However, by the time Porsche gets these vehicles to dealer showrooms, it remains unclear what the market landscape will look like. Hopefully, these products can continue to lure Porsche buyers and help the performance brand become more sustainable in the coming years.

What do you think of the article? Do you have any comments, questions, or concerns? Shoot me an email at william@teslarati.com. You can also reach me on Twitter @WilliamWritin. If you have news tips, email us at tips@teslarati.com!

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Will is an auto enthusiast, a gear head, and an EV enthusiast above all. From racing, to industry data, to the most advanced EV tech on earth, he now covers it at Teslarati.

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Tesla provides vehicles for German firefighters’ EV training program

The sessions were aimed at improving emergency services for accidents involving electric vehicles.

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Credit: Tesla Manufacturing/X

Firefighters from across Germany recently gathered at Tesla Gigafactory Berlin-Brandenburg to practice emergency procedures on electric vehicles. The first training session last weekend focused on dismantling Tesla vehicles using spreaders, shears, and saws, giving responders hands-on experience with modern EV construction and safety features. 

The sessions were aimed at improving emergency services for accidents involving electric vehicles, which, while less likely to catch fire than conventional cars, require special handling.

Challenges for first responders

During the exercises, firefighters discovered that Tesla vehicles’ sturdy, unified body panels, which are among the reasons why they are among the safest cars on the road, made cutting doors and roofs more difficult than in older vehicles, as noted in an rbb24 report.

“It was a real eye-opener,” firefighter Martin Haschick said, adding that his first attempt showed him “how not to do it, because we are also trained on older vehicles, and that took longer than I expected.” Tesla trainers demonstrated proper techniques to safely dismantle vehicles, emphasizing differences between older combustion-engine cars and today’s EVs.

Patrick Fath, head of the Tesla plant fire brigade, explained that hands-on experience with current EVs is critical, as scrap cars typically used in training do not reflect modern material strengths or technological design.

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“They naturally have a completely different level of technology and different material strengths. But what can happen to us in everyday life – on the highway, on the roads, involves modern vehicles,” Fath stated.

Future training programs

Tesla plans to continue offering training for regional fire departments and state fire service schools, with the Brandenburg Ministry of the Interior observing the initial sessions to provide feedback. Exercises currently avoid live fires or fluid leaks due to the factory’s location in a drinking water protection zone. Tesla covers the costs of these programs, aiming to enhance first responders’ knowledge of modern EV safety and accident procedures.

In a comment, Fath highlighted that electric vehicle fires should not be too much of a problem, considering that the vehicles don’t catch fire as often as their combustion-powered counterparts. “Studies and experience from recent years have already shown that electric vehicles catch fire far less often than conventional vehicles. We have far fewer flammable materials, no gasoline or diesel tank, and therefore fewer ignition sources,” Fath stated.

Authorities have announced similar conclusions. The German Insurance Association (GDV) has confirmed that EVs catch fire significantly less often than combustion-powered cars, with statistics showing that around 14,200 vehicles caught fire in Germany in 2023. At the time, no higher fire risk was found in EVs. Data from the US National Transportation Safety Board (NTSB) from 2024 also showed that about 25 out of 100,000 EVs catch fire, which is notably fewer than the 1,530 out of 100,000 combustion-powered vehicles that catch fire.

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SpaceX’s next project will produce Starships at a level that sounds impossible

1,000 rockets per year is an insane number, especially considering Starship’s sheer size.

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Credit: SpaceX

Elon Musk has revealed bold plans for SpaceX’s newest Starbase facility in Texas, predicting it will become a birthplace for “so many spaceships.” The upcoming “Gigabay,” a massive $250 million production hub in Starbase, Texas, is designed to manufacture up to 1,000 Starship rockets per year.

That’s an insane number of rockets for a single facility, especially considering Starship’s sheer size. 

One of the world’s largest industrial structures

SpaceX’s Gigabay is expected to stand roughly 380 feet tall and enclose 46.5 million cubic feet of interior space, making it one of the largest industrial structures to date. The facility will feature 24 dedicated work cells for assembling and refurbishing Starship and Super Heavy vehicles, complete with heavy-duty cranes capable of lifting up to 400 U.S. tons, as noted in a Times of India report.

Construction crews have already placed four tower cranes on-site, with completion targeted for December 2026. Once operational, the Gigabay is expected to boost SpaceX’s launch cadence dramatically, as it would be able to build up to 1,000 reusable Starships per year, as noted in a report from the Dallas Express. Musk stated that the Gigabay will be “one of the biggest structures in the world” and hinted that it represents a major leap in Starbase’s evolution from test site to full-scale production hub.

A key step toward Mars and beyond

Starship is SpaceX’s heavy-lift rocket system, and it remains a key part of Elon Musk’s vision of a multiplanetary future. The vehicle can carry 100–150 tonnes to low Earth orbit and up to 250 tonnes in expendable mode. With several successful flights to date, including a perfect 11th test flight, the Starship program continues to refine its reusable launch system ahead of crewed lunar missions under NASA’s Artemis initiative.

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Starship is unlike any other spacecraft that has been produced in the past. As per Elon Musk, Starship is a “planet-colonizer” class rocket, as the magnitude of such a task “makes other space transport task trivial.” Considering Starship’s capabilities, it could indeed become the spacecraft that makes a Moon or Mars base feasible. 

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Elon Musk

‘You chose ambition’: Tesla Chair hails shareholders for backing Elon Musk’s vision

Denholm stated that the vote highlighted TSLA investors’ continued confidence in both Musk’s leadership and Tesla’s vision for an autonomous, AI-driven future.

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(Credit: Tesla)

Tesla Chair Robyn Denholm has issued a letter to shareholders celebrating what she described as “overwhelming support” at this year’s Annual Meeting, framing the approval of Elon Musk’s trillion-dollar pay plan as a defining moment in Tesla’s mission. 

Denholm stated that the vote highlighted TSLA investors’ continued confidence in both Musk’s leadership and Tesla’s vision for an autonomous, AI-driven future.

Denholm hails shareholder confidence

In her letter, which was posted by the electric vehicle maker on X through Tesla’s official handle, Denholm thanked investors for backing Proposals One, Three, and Four, items she said reaffirm Tesla’s “Master Plan Part IV” and its broader mission to accelerate sustainable prosperity. She characterized the shareholder vote as “a vote of confidence in our visionary leader, Elon,” crediting Musk with transforming Tesla into one of the most valuable companies in history.

“In a year when many tried to sow doubt and negativity, you chose a better future,” Denholm wrote. “You chose ambition. You chose to see what is possible. You chose to back the people who have been in the room since the earliest days, fighting for the mission that first brought us all together—a better world for humanity,” she wrote in her letter. 

Her comments framed Musk’s pay package approval not only as a governance milestone but as a symbolic endorsement of Tesla’s long-term trajectory across autonomy, AI, and energy innovation.

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“A whole new book” of innovation

Denholm highlighted Tesla’s push toward autonomy as the company’s next major growth phase, citing the Robotaxi program and Optimus humanoid robot as examples of bringing artificial intelligence “into the physical world.” She described this period as potentially “the largest value-creation event in Tesla’s history, and quite possibly in the history of humanity.”

The letter reaffirmed the board’s commitment to direct engagement with shareholders through Tesla’s online platform and live events. Denholm emphasized that feedback from investors “informs our strategy and strengthens us” as Tesla prepares for new technology rollouts and expanded AI capabilities.

“You, our shareholders, have given us the mandate and the runway to execute. We are humbled, and rest assured that we do not take that responsibility lightly… Thank you for believing in Tesla. Thank you for standing with us. We look forward to years of bold leadership and pioneering innovation, fueled by our commitment to creating a better future for all,” she wrote.

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