Porsche is cutting more than 500 jobs and closing three subsidiaries as falling EV demand and weaker China sales squeeze profits. The restructuring shifts focus back to its core car business, shutting Cellforce Group’s battery operations, ending Porsche eBike Performance, and closing Cetitec’s software and digital communications unit. The move signals a broader luxury auto recalibration.
Union minister Nitin Gadkari said his social work reduces the need for election campaigning, speaking at an award ceremony in Pune. He also pointed to rapid growth in India’s electric vehicle market, noting demand is so high that buyers may wait longer for EVs than for conventional cars.
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Rising worries about fuel availability and price hikes linked to the West Asia conflict are nudging Indian buyers toward electric vehicles. Electric car sales have increased sharply, lifting their share of new car sales by 5.1% in March. Industry leaders call it a structural shift, with automakers expanding EV lineups and scaling charging networks to match demand.
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