Porsche plans to retain gasoline-powered versions of its new-generation 718 Boxster and Cayman models for the “top” versions, despite the slowdown in the pace of electrification, Autocar reports.

Also, the carmaker is reviewing its plans for the K1 electric SUV. This model, which was originally conceived as a fully electric one, will now be released in gasoline and hybrid versions.

Porsche CEO Oliver Blume said that the demand for purely electric luxury cars is considerably decreasing, and the brand is responding to this by maintaining a combination of gasoline, hybrid, and electric models in its lineup.

The development of the SSP Sport (SSP 61) platform, which was to underpin the Cayenne and Panamera/Taycan electric cars, has now been postponed until “well into the 2030s,” Blume said

In addition, Porsche plans major upgrades to the gasoline and hybrid versions of its Cayenne and Panamera to keep them competitive “well into the 2030s.”

The carmaker admits that its net profit margin could fall by around 2% this year due to a combination of factors: falling demand for electric cars, declining luxury sales in China, and higher car import tariffs in the US.

Porsche, however, hopes that margins will return to above 10% in the medium term with new products.