Is this shocking? Obviously including PHEVs helps a bit, but even outside of this it is exactly what should be happening. Their biggest sellers are SUVs, and at these price points, the EVs can be substantially than their ICE counterparts. For 2026, they probably won't even need the PHEVs to get there, since the Cayenne EV is the best EV that they've built so far.

Given that they walked back many of their BEV goals in mid-to-late 2025, some may find this surprising. The K1 was supposed to be all electric vehicle when it was announced, and they are now going to release it as a gas & PHEV first instead.