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Speaker 1: Well, we're going to the world of cars and Porsche

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Speaker 1: going electric. The car maker just unveiled its own electric McCann.

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Speaker 1: I caught up with Timo Rash, the new President and

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Speaker 1: CEO of Porsche Cars North America, in an exclusive interview

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Speaker 1: just ahead of the launch, and we discussed his outlook

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Speaker 1: for the company as they try to tackle the EV

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Speaker 1: market here in the States. Have a listen when you

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Speaker 1: think about your role and the time ahead, how's zero doing?

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Speaker 1: Are you to this EV story with Porsche electrification of

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Speaker 1: your existing models?

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Speaker 2: And thanks for having me and having Porsche Cars North

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Speaker 2: America here. I think it's definitely a very very important year.

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Speaker 2: But it's not that we are entering the electric space

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Speaker 2: now as newbies with Porsche Tikhon. We already have quite

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Speaker 2: a successful history of entering the marketplace and being pioneers

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Speaker 2: in bringing the electrification to this industry. And I think

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Speaker 2: we are especially well prepared because the Porsche electric cars

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Speaker 2: really feel like a Porsche has to feel there all

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Speaker 2: about performance, about the looks, the whole DNA and all

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Speaker 2: of that in a practicality in terms of package. So

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Speaker 2: I think we are well prepared and I'm really excited

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Speaker 2: for the year twenty twenty four.

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Speaker 1: But you're also in a difficult spot on you because

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Speaker 1: you're going to have people that look at Taikan, the

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Speaker 1: upcoming battery electric Macann, and then there are going to

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Speaker 1: be those that like to drive the stick shift eighty

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Speaker 1: three Carrera with the whale tail, and they'll never buy

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Speaker 1: an EV temo. What's your plan for those people.

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Speaker 2: I think we in the perfect position because we can

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Speaker 2: cater to all of the customer needs. I think the

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Speaker 2: Porsche brand has always been about offering the choice that's

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Speaker 2: freedom and to provide this opportunity to fulfill your dream,

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Speaker 2: and I think this is what Porsche will always do

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Speaker 2: also in the future. So we can cater to the

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Speaker 2: customers that, for example, are looking for an electric, very

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Speaker 2: very sporty, a suv like the McCann Beth which has

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Speaker 2: all the DNA Porsche in it, and at the same

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Speaker 2: time we continue to sell stick shift manual nine to elevens,

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Speaker 2: which are maybe at the other end of the spectrum.

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Speaker 2: So and I think that's what a brand like port

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Speaker 2: is all about, that you are really catering to the

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Speaker 2: needs of the customers and always being cutting edge technology,

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Speaker 2: being at the forefront of things that customers are asking for.

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Speaker 1: It is the eve of the big unveil of the

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Speaker 1: bev or Emachn in Singapore. Is your expectation that the

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Speaker 1: EMA KHN out sells in this market North America? This

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Speaker 1: I can I.

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Speaker 3: Think you'll appreciate.

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Speaker 2: If we cannot really give predictions, we are pretty sure

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Speaker 2: that with the launch of the Maccan Electric and we

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Speaker 2: will pretty much not be able to cope with the demand.

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Speaker 2: And definitely the first year, I think there's definitely a

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Speaker 2: lot of demand. A lot of people are waiting for

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Speaker 2: a product like this, and this comes at a stage

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Speaker 2: where the Macan as we have it in the market

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Speaker 2: right now with the combustionallet the combustion engine car has

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Speaker 2: its most successful year in its history as of last year.

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Speaker 2: So there's high demand for the existing platform, and I

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Speaker 2: think a lot of people are looking for this new

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Speaker 2: latest edge technology that everything that the McCant already has

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Speaker 2: going for it even to a higher degree. So that

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Speaker 2: for that reason I feel positive about it. And then

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Speaker 2: we can really see in the year twenty twenty five

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Speaker 2: and upcoming what the real relationship between the Ice.

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Speaker 3: Version and the Beth version will be.

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Speaker 2: Right in the first year I think it's just customer

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Speaker 2: demand rum and what we can supply from our factory

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Speaker 2: in Germany.

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Speaker 1: So well exactly so, so your supply constrained, right, Timo,

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Speaker 1: You know that demand for the electric Macarann is going

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Speaker 1: to outweigh your ability to supply. When you are phoning

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Speaker 1: your counterparts in Germany, how much supply are they able

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Speaker 1: to guarantee you for that first year.

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Speaker 2: I can't go into details of numbers, but I think

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Speaker 2: we are very much driven by providing usually always just

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Speaker 2: one car lest that the market is asking for.

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Speaker 3: So this is what our flexibility.

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Speaker 2: Also in terms of our production pipeline, having both of

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Speaker 2: these cars come out of our factory and leiptick in Germany,

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Speaker 2: that gives us this perfect possibility to custom tailor our

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Speaker 2: supply chain to the market demands. And for that reason,

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Speaker 2: I'm sure we will hit the right spot supplying enough

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Speaker 2: macan overall, and I assume in the first couple of

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Speaker 2: months there.

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Speaker 3: Will be more demand than we can supply for the McCanne.

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Speaker 1: Beth, Is this the end of the gasoline powered McCann

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Speaker 1: long term? Is the idea that the powertrain is just

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Speaker 1: a straight swap, phase out gasoline and go to battery

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Speaker 1: electric on the SUV.

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Speaker 2: For the time being, we at Porsche are convinced that

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Speaker 2: we have to offer our customers the choice of drive trains,

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Speaker 2: and that's also the reason that we did not come

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Speaker 2: up with a different naming. So the maccan is what

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Speaker 2: the mccan stands for. All of the positive elements of

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Speaker 2: the mccan success that we have is also carried forward

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Speaker 2: the Maccan Electric And for that reason, I don't count

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Speaker 2: out the Macan with the combustion internal engine for the future,

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Speaker 2: and so we are very happy to be able to

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Speaker 2: offer both of them in the marketplace for the foreseeable future,

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Speaker 2: next to each other.

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Speaker 1: So you're an experienced executive in the world of automotive,

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Speaker 1: right BMW now Porsche, But those are like the legacy

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Speaker 1: German names right and the market right now is fascinating.

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Speaker 1: Look at something like Tesla's cyber truck. You come into

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Speaker 1: the role as CEO of Porsche Cars North America when

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Speaker 1: you look over your shoulder with the Ema Kahn coming,

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Speaker 1: who you worried about out there? Is it the cyber truck?

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Speaker 1: You know it's a high a spec expensive model. In

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Speaker 1: the first instance, that goes to the high networth individual

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Speaker 1: or the big spender, or are you worried about the

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Speaker 1: electro electrified offerings from some of your German peers like

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Speaker 1: Mercedes for example.

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Speaker 2: I think in terms of design and the peel and

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Speaker 2: technology really being cutting tectrochnology, we as Porsche can usually

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Speaker 2: have a lot of people that start being convinced and

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Speaker 2: being excited about the Porsche brands. So we see that

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Speaker 2: there will be a lot of opportunities to get the

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Speaker 2: Porsche family growing, but at the same time also get

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Speaker 2: existing Porsches excited posha fans excited.

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Speaker 3: For the Maccan BEEV.

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Speaker 2: So there's I think a lot of opportunity in the

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Speaker 2: still growing a BEV market where customers will come from

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Speaker 2: and start joining the Porsche family and start this experiencing

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Speaker 2: what the feeling of the POSHE product is all about.

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Speaker 1: What does the data tell you about where you're taking

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Speaker 1: market share and EV historically? Are you taking it from

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Speaker 1: the former Tesla mode less buyer or is it that

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Speaker 1: you're taking more share from historically combustion engine buyers.

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Speaker 2: When we look at Tai Khan figures, we see that

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Speaker 2: obviously we had, especially in the beginning when we started

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Speaker 2: to launch the Cant twenty nineteen, a very strong growth

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Speaker 2: from within the Porsche family that became a second or

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Speaker 2: third car. And now we have seen that more and more.

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Speaker 2: Obviously also with electrification charging infrastructure growing, that more and

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Speaker 2: more people start to use these cars, not just for

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Speaker 2: the fun of this very powerful and instaneous train, but

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Speaker 2: they see it's overall plus in terms of capabilities, and

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Speaker 2: that is for us a reason to see that they

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Speaker 2: will come from all different kinds of sources, and we

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Speaker 2: don't specifically just count.

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Speaker 3: On one of them being the major source.

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Speaker 1: Timo America was critically important to Porsche in twenty twenty

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Speaker 1: three in part because China's growth was decelerating, and I

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Speaker 1: think Porsche is said twenty twenty four is going to

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Speaker 1: be difficult in China as well. What kind of pressure

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Speaker 1: are you under to keep the growth going here in

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Speaker 1: the United States North America more broadly, when a key

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Speaker 1: market like China is slowing down.

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Speaker 2: Being responsible for the North American market, I would like

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Speaker 2: to focus on these topics. But if you see the

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Speaker 2: overall balance of distribution of sales of Porsche, I think

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Speaker 2: the Porsche brand is perfectly balanced in terms of its

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Speaker 2: international distribution of sales.

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Speaker 3: So this is a really i'd say great time to see.

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Speaker 2: That there is not such a huge dependency on the

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Speaker 2: Chinese market as it might be for some other brands,

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Speaker 2: and we see the brand being in a very good position.

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Speaker 3: I think we have high desirability.

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Speaker 2: You can see that in all different kinds, and for

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Speaker 2: that reason, I also see good possibility to continue on

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Speaker 2: this growth pattern of sustainable growth also here in the

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Speaker 2: United States or the North American market also, I think,

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Speaker 2: driven by custom and demand, continue the success story.

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Speaker 1: Elon Musk was talking this time of year ago about

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Speaker 1: potential force masure that could happen throughout the year and

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Speaker 1: hit EV demand. Are you seeing yourself temo as an

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Speaker 1: Elon Musk in this EV space as you enter this

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Speaker 1: new role as Portion of America CEO, or you have

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Speaker 1: a slightly different style in how you approach things.

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Speaker 2: I wouldn't go any way close to making comparisons like that.

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Speaker 3: I think Portia has.

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Speaker 2: Always been unique and it's in its own space, and

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Speaker 2: I think that also holds true to the entire team

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Speaker 2: because it's not just me. I think it's the entire

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Speaker 2: team of the Porschecast North America operations. Here in Atlanta,

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Speaker 2: at our headquarters and especially in the field and an hour,

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Speaker 2: I think very unique and extremely powerful dealership one hundred

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Speaker 2: ninety eight dealers across the United States. So I think

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Speaker 2: we are uniquely positioned for future growth and especially for

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Speaker 2: a very demand oriented growth, because I think that's at

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Speaker 2: the end what is driving and also making sure that

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Speaker 2: the Porsche brand always will stay true to itself. I

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Speaker 2: think it's this very unique connection between our customers and

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Speaker 2: the brand and this if you look back into the

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Speaker 2: year twenty twenty three, when we had the biggest Porsche

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Speaker 2: gathering of the world taking place at the Gundeseca and

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Speaker 2: we had more than eighty five thousand people come to

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Speaker 2: the racetrack and enjoying this Porsche brand together.

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Speaker 3: I would say no other brand that I've.

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Speaker 2: Ever seen that can do something like that, and I

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Speaker 2: think that's unique to the brand and we want to

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Speaker 2: keep that because Porsche is Porsche, because it continuously has

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Speaker 2: been evolving and never stood still.

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Speaker 1: Timo Rash portion of a man Marica presidency