Porsche AG may expand its growing lineup with a battery-powered vehicle to cater to demand for cleaner luxury vehicles and counter the rise of Tesla Motors Inc.
“Tesla has built an exceptional car,” Porsche chief Matthias Mueller said Friday at the brand’s annual press conference in Stuttgart, Germany. “They have a very pragmatic approach and set the standard, where we have to follow up now.”
The Volkswagen AG unit plans to roll out its seventh model line by 2020, but has yet to make a final decision on the car’s form. Porsche previously said it might expand the Panamera coupe line with a smaller version or a more spacious shooting brake variant. Porsche has also been considering a sports car between the 911, which costs $151,100 for the Turbo version, and the $845,000 918 Spyder [...]