Porsche to Shut Proprietary EV Charging Network in China

Porsche AG (POAHF) is preparing to gradually shut down its proprietary electric-vehicle charging network in China, a move that reflects the pressures the luxury automaker is facing in the world's largest auto market. The Volkswagen AG unit said it will begin decommissioning around 200 chargers from March, confirming an earlier report by Chinese outlet Yicai, while continuing to work with external charging providers to support customers.The company emphasized that the adjustment is narrowly targeted rather than a full retreat. Porsche said the change only affects its premium charging scenarios, while other charging options will continue to operate as usual. Chargers located at Porsche dealerships, as well as those installed at hotels and golf clubs, are set to remain available, alongside access to third-party charging networks. A Porsche China representative said the company's commitment to the Chinese market remains unchanged, even as it reshapes how charging services are delivered.The decision comes against a difficult backdrop for Porsche in China. Sales in the country fell 26% in the first nine months, as weaker consumption and intensifying competition from domestic brands weighed on performance. The company has cut its forecasts multiple times this year after delaying the rollout of new electric models, and its shares have declined more than 20% year to date. In November, Germany's Focus magazine reported that Porsche is possibly considering a gradual withdrawal from China, a report that could add to investor scrutiny around the brand's longer-term strategy in the market.