Porsche denies Tesla Model S rival is in development

Porsche research and development boss Wolfgang Hatz has dismissed reports that the firm is planning to launch a rival to the Tesla Model S, based on the new Panamera platform.

The new Panamera will launch in 2016. Several versions are expected to go on sale, including different bodystyles and a smaller version of the car which will take on the likes of top-end BMW 5-series models.

While the smaller version of the Panamera is likely to make production, an all-electric version currently isn't possible, according to Hatz.

“We are a sports car firm, and that brings with it certain expectations,” he said. “A Tesla is a fine car, but you cannot drive it enthusiastically without losing range or performance too quickly. Until the technology offers a solution to those problems, we will not be looking at launching such a car.”

Electric Porsche Boxster test cars have been developed by the firm since 2011, and are still being evaluated today as part of a joint programme with the German authorities.

However, Hatz reiterated that the technology is still too new to warrant consideration for production.“We are leading the way with plug-in technology, and our customers are happy with the benefits that it brings,” said Hatz. “For now, that is our focus.”