German luxury car manufacturer Porsche is hoping to reverse a negative trend with a new electric car model. An all-electric variant of the Cayenne model has been unveiled and is intended to compete with, among other things, Tesla.
The new model will have a range of just over 640 kilometers, which is more than Tesla's Model Y, writes the news agency Bloomberg. However, the price is not for those looking for a budget alternative, the "cheapest" variant will cost just over 105,000 euros, equivalent to almost 1.2 million Swedish kronor.
Porsche, like many other German automakers, has recently been pressured by tariff threats and increasingly tough competition. Last month, it also reported its first quarterly loss since the company went public.
