Porsche Might Cancel The 718 EV Before They Even Launch – Report

Rumours have circulated that Porsche might cancel its 718 EV sportscar project before even launching it.

It is no secret that Porsche has spent years developing an all-electric successor to the 718 Boxster and Cayman, so much so that the automaker has retired their outgoing ICE versions to make way for the new EVs. However, a new report suggests that the Stuttgart-based marque may pull the plug entirely on both models before they are made public.

Porsche's newly-appointed CEO Dr. Michael Leiters

This revelation comes after the former CEO of McLaren, Dr. Michael Leiters, stepped into his new role as Stuttgart’s new chief executive starting this year, and according to unnamed sources cited in a new report, one of his first major decisions could be the cancellation of the 718 EV project.

Bloomberg reports that a "people familiar with the matter" told the publication that the rising costs and mounting development delays for the new 718 EV are part of this decision. Not to mention, Porsche is also under pressure to cut spending following its declining sales record in 2025, particularly in previously strong markets like China that saw a massive 26% drop in sales.

Prior to this news, the automaker previously dialed back its ambitious EV-only strategy, and we also reported that the next-gen 718 will also come in a pure combustion form alongside the all-electric version. Bloomberg further reports that the Stuttgart-based marque is now considering an additional plug-in hybrid (PHEV) variant for the new 718, although that move would require some serious financial tolls too.

Should all of these be true, then we’re possibly looking at further delays for the next-gen 718, and if they are eventually launched, the tech and features of the car might already feel outdated by that time.

Back to the new CEO, Dr. Leiters has inherited a long to-do list from his predecessor Oliver Blume, who served as Porsche CEO for the past decade. Not to forget, the brand’s recent EV pullback reportedly wiped out €1.8 billion (RM8.463 billion) in operating profit last year, while the ongoing tariff issues in the US have added more problems to the automaker.

As for the new 718, this all-electric sportscar duo has already faced several delays, and sales for these two models were originally intended to start this year. In 2025, former CEO Blume revealed that Porsche was having trouble sourcing the high-performance battery cells it needed for the EV duo, which was partly due to Swedish battery manufacturer Northvolt filing for bankruptcy.