Porsche AG Sets High Bar For Electric Vehicles

• Volkswagen AG (OTC:VWAGY) owned luxury sports car maker Porsche AG has set forth an upbeat target for its electric vehicles, Reuters reported.
• Porsche said it expects more than 80% of newly sold Porsche vehicles to be fully electric in 2030.
• In an annual press conference, its chief finance officer said Porsche had set 15% as its long-term operating margin target.
• Earlier, Volkswagen had inked an agreement with its top shareholder to float Porsche in a partial stock market listing to unlock value from the brand.
• Analysts estimate Porsche AG could be valued at up to $102 billion in an initial public offering.
• Price Action: VWAGY shares closed lower by 0.12% at $24.36 on Thursday.
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