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Porschefaces a billion-euro setback as it slows its electric vehicle rollout and returns to petrol.
The iconic carmaker is struggling with its costly strategy shifts, weaker overall EV demand, China's luxury market slump and US President Donald Trump's tariff hikes, forcing parent company Volkswagen absorb a €5 billion loss.
Porsche is now betting on ex-McLaren CEO Michael Leiters to steer a turnaround.