As part of its goal of delivering more than 80 percent of its new vehicles as fully-electric (EV) models by 2030, Porsche has announced its future line-up of models which includes a flagship electric SUV that would be positioned above the Cayenne.

The SUV, codenamed K1, will be designed to offer ‘strong performance and automated driving functions with the typical Porsche fly line' and will use the Volkswagen Group’s SSP Sport platform that the Stuttgart-based company is developing.

In a statement, Porsche CEO Oliver Blume said, “We are observing growing profit pools in this segment, in particular in China and the US.”

Besides the new Porsche E-SUV flagship, Porsche’s other upcoming EV models include:

• An all-electric Macan to be launched in 2024 as Porsche’s second EV model after the Taycan
• EV versions of the 718 Boxster and Cayman planned for the middle of the decade
• Fully electric Cayenne as early as 2025 or 2026

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Plans for the Porsche K1 flagship fully-electric crossover were confirmed by Porsche last July which CEO Blume described at the time as “a very sporty interpretation of an SUV”.

The crossover will be built in Leipzig starting from the middle of the decade. It will incorporate technology seen in the Mission R concept that was shown at the 2021 International Motor Show Germany (IAA) in Munich.

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The biggest highlight of the sports car concept was the 900-volt technology and fast-charging capacity. Thanks to this technology, Porsche said that it is possible to charge the battery from 5% to 80% in about 15 minutes.

Porsche also reported record earnings and revenue in 2022 as it boosted car deliveries and tightened costs. The Stuttgart outfit is also Europe’s most valuable automaker following last year’s initial public offering.