Porsche May Scrap Electric 718 Project as New CEO Considers Halting Development

According to Bloomberg, Porsche may terminate its development plans for the electric versions of the 718 Cayman and Boxster. Michael Leiters, who became CEO in January 2026, is currently evaluating whether to pause the project, primarily due to soaring development costs and significant delays. Porsche had already discontinued the previous-generation 718 in October 2024, with the electric variants originally slated for launch this year. However, engineers revealed as early as December 2024 that the project was "severely behind schedule," and development was forced to halt in May 2024 following the bankruptcy of battery supplier Northvolt. In September 2024, Porsche confirmed that the next-generation 718 would continue to offer internal combustion engine models, positioning them at the top of the lineup. Facing declining sales in China and new U.S. tariff pressures, the company is now prioritizing financial stability, casting serious doubt on the future of the electric 718. Porsche declined to comment on the matter.