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.
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!
News
Tesla hires Autopilot Test Engineer in Shanghai for China FSD rollout
The role is based in Lingang, the district that houses Gigafactory Shanghai.
Tesla is hiring an Autopilot Test Engineer in Shanghai, a move that signals continued groundwork for the validation of Full Self-Driving (FSD) in China. The role is based in Lingang, the district that houses Gigafactory Shanghai and has become a key testing zone for advanced autonomous features.
As observed by Tesla watchers, local authorities in Shanghai’s Nanhui New City within Lingang have previously authorized a fleet of Teslas to run advanced driving tests on public roads. This marked one of the first instances where foreign automakers were permitted to test autonomous driving systems under real traffic conditions in China.
Tesla’s hiring efforts come amid ongoing groundwork for a full FSD rollout in China. Earlier reporting noted that Tesla China has been actively preparing the regulatory and infrastructure foundation needed for full FSD deployment, even though the company has not yet announced a firm launch date for the feature in the market.
As per recent comments from Tesla China Vice President Grace Tao, the electric vehicle maker has been busy setting up the necessary facilities to support FSD’s full rollout in the country. In a comment to local media, Tao stated that FSD should demonstrate a level of performance that could surpass human drivers once it is fully rolled out.
“We have set up a local training center in China specifically to handle this adaptation,” Tao said. “Once officially released, it will demonstrate a level of performance that is no less than, and may even surpass, that of local drivers.”
Tesla CEO Elon Musk has been quite bullish about a potential FSD rollout in China. During the 2025 Annual Shareholder Meeting, Musk emphasized that FSD had only received “partial approval” in China, though full authorization could potentially arrive around February or March 2026. This timeline was reiterated by the CEO during his appearance at the World Economic Forum in Davos.
Elon Musk
Tesla Model Y outsells all EV rivals in Europe in 2025 despite headwinds
The result highlights the Model Y’s continued strength in the region.
The Tesla Model Y was Europe’s most popular electric car in 2025, leading all EV models by a wide margin despite a year marked by production transition, intensifying competition, and anti-Elon Musk sentiments.
The result highlights the Model Y’s continued strength in the region even as Volkswagen overtook Tesla as the top-selling EV brand overall.
As per data compiled by JATO Dynamics and reported by Swedish outlet Allt om Elbil, the Tesla Model Y recorded 149,805 registrations across Europe in 2025. That figure placed it comfortably at No. 1 among all electric car models in the region.
The Model Y’s performance in Europe is particularly notable given that registrations declined 28% year-over-year. The dip coincided with Tesla’s Q1 2025 transition to the updated Model Y, a changeover that temporarily affected output and deliveries in several markets. Anti-Elon Musk sentiments also spread across several European countries amidst the CEO’s work with U.S. President Donald Trump.
Even with these disruptions, the Model Y outsold its nearest rival by more than 50,000 units. Second place went to the newly launched Skoda Elroq with 93,870 registrations, followed by the Tesla Model 3 at 85,393 units. The Model 3 also recorded a 24% year-over-year decline. Renault’s new electric Renault 5 placed fourth with 85,101 registrations.
Other top performers included the Volkswagen ID.4, ID.3, and ID.7, along with the BMW iX1 and Kia EV3, many of which posted triple-digit growth from partial-year launches in 2024.
While the Model Y dominated individual model rankings, Volkswagen overtook Tesla as Europe’s top EV brand in 2025. Volkswagen delivered 274,278 electric cars in the region, a 56% increase compared to 2024. Much of that growth was driven by the Volkswagen ID.7. Tesla, by contrast, sold 236,357 electric vehicles in Europe, representing a 27% year-over-year decline.
JATO Dynamics noted that “Tesla’s small and aging model range faces fierce competition in Europe, both from traditional European automakers and a growing number of Chinese competitors.”
Despite intensifying competition and brand-level shifts, however. the Model Y’s commanding lead demonstrates that Tesla’s bestselling crossover remains a dominant force in Europe’s fast-evolving EV landscape.
News
Starlink gets its latest airline adoptee for stable and reliable internet access
The company said it plans to “rapidly integrate Starlink into its fleet,” and that the first Starlink-equipped aircraft will enter service this Summer.
SpaceX’s Starlink, the satellite internet program launched by Elon Musk’s company, has gotten its latest airline adoptee, offering stable and reliable internet to passengers.
Southwest Airlines announced on Wednesday that it would enable Starlink on its aircraft, a new strategy that will expand to more than 300 planes by the end of the year.
The company said it plans to “rapidly integrate Starlink into its fleet,” and that the first Starlink-equipped aircraft will enter service this Summer.
Tony Roach, Executive Vice President, Chief Customer and Brand Officer for the airline, said:
“Free WiFi has been a huge hit with our Rapid Rewards Members, and we know our Customers expect seamless connectivity across all their devices when they travel. Starlink delivers that at-home experience in the air, giving Customers the ability to stream their favorite shows from any platform, watch live sports, download music, play games, work, and connect with loved ones from takeoff to landing.”
Southwest also said that this is just one of the latest upgrades it is making to provide a more well-rounded experience to its aircraft. In addition to Starlink, it is updating cabin designs, offering more legroom, and installing in-seat power to all passengers.
Southwest became one of several airlines to cross over to Starlink, as reviews for the internet provider have raved about reliability and speed. Over the past year, Hawaiian Airlines, United Airlines, Alaska Airlines, airBaltic, Air France, JSX, Emirates, British Airways, and others have all decided to install Starlink on their planes.
This has been a major move away from unpredictable and commonly unreliable WiFi offerings on planes. Starlink has been more reliable and has provided more stable connections for those using their travel time for leisure or business.
Jason Fritch, VP of Starlink Enterprise Sales at SpaceX, said:
“We’re thrilled to deliver a connectivity experience to Southwest Airlines and its Customers that really is similar, if not better, than what you can experience in your own home. Starlink is the future of connected travel, making every journey faster, smoother, and infinitely more enjoyable.”
Starlink recently crossed a massive milestone of over 10 million subscribers.
Tesla hires Autopilot Test Engineer in Shanghai for China FSD rollout
Tesla Model Y outsells all EV rivals in Europe in 2025 despite headwinds
