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2023 Porsche Cayenne E-Hybrid front

Porsche Announces Fully Electric Next-Gen Cayenne and Possible Three-Row EV

New EVs announced during Porsche's yearly press conference

  • During its annual press conference, Porsche announced that the next-generation Cayenne will be available as an EV.
  • A larger electric SUV, which is believed to offer three rows of seating, was also teased.
  • Both will follow the Macan EV crossover and electric 718 sports cars.

During its annual press conference this week, Porsche detailed its 2022 financials and announced new strategies and teased future vehicles. Among these announcements was the confirmation of both a new electric Porsche Cayenne and an unnamed electric SUV positioned above the Cayenne that will reportedly feature three rows of seating.

Porsche CEO Oliver Blume explained the logic behind a more diverse and electrified SUV lineup: "We are observing growing profit pools in [the large SUV] segment, in particular in China and the U.S." For now, details on Porsche's new electric SUVs are light. The fully electric Macan is set for 2024, and the Cayenne will have an electric offering for its fourth generation — though when it will debut isn't specified. Porsche does, however, say that the largest electric SUV will be based on the new SSP Sport platform and will have autonomous driving functions. First confirmed by Porsche in July last year, it is rumored this SUV will feature a third row.

2023 Porsche Cayenne and Cayenne Coupe front and profile group shot

Blume says the new SUV will have a profile inspired by the brand's omnipresent 911 and that it will be critical to its Road to 20 profitability strategy. The plan is named as such because it will help the automaker to reach a goal of increasing operating return on sales to 20% or more, up from the 18% the brand sits at currently. Blume believes the sales potential of an electric Porsche SUV will drive buyers to the brand.

In the short term, the Cayenne is due for yet more change. Stuttgart has said the 2024 model year will bring "one of the most comprehensive upgrades in the history of Porsche" to the midsize SUV. Again, electrification has its role to play. Porsche says three "further-developed" hybrids with greater ranges are in store and a new chassis will bring better road manners along with that. Read our drive of several 2024 Porsche Cayenne prototypes here.

2023 Porsche Cayenne E-Hybrid rear

In addition to these details and future plans for the brand and its lineups, Porsche shared information on its financials for 2022. Porsche Group's operating profit was $7.2 billion for the year, an increase of 27.4%. Porsche continued to recover from pandemic-related delivery woes as well, stating that both net cash flow and deliveries hit an all-time high last year.

Speaking of deliveries, the automaker was able to get a total of 309,884 cars to customers last year, which is an increase of 2.6% over 2021 (301,915 vehicles). There are important dates on the horizon for Porsche as well, with the company's 75th anniversary and the 911's 60th both occurring this year. Finally, Porsche announced a renewed focus on limited editions and one-offs like the 911 Sport Classic and an expansion of its Sonderwunsch customization program.

2023 Porsche Cayenne E-Hybrid charging

Edmunds says

Porsche's EV future is coming into focus with the announcement of a next-generation electric Cayenne and a new SUV with potentially three rows. These will join the already announced Macan EV and electric successors to the 718 Cayman and 718 Boxster.