Porsche has abandoned its target for 80% of sales to be electric by 2030.
Instead, the VW-owned luxury car maker will see how electric vehicle sales develop around the world.
“The transition to electric vehicles will take longer than we assumed five years ago,” Porsche said in a statement, adding that sales will depend on demand and how EVs develop across the world.
Germany-based Porsche is the latest big car group to express caution over EV demand following data showing sales are slowing rapidly across Europe and China.
Mercedes-Benz, GM and Tesla have reined back their forecast already, with cheap Chinese competition another problem for Europe’s industry to tackle.
Chinese groups such as BYD and Neo sell cars at a fraction of the cost of a car in Europe, prompting the EU to impose big tariffs on imports to help protect makers there.
Sales of hybrids have increased due to concerns over the range of pure EVs and how they can be charged given the current lack of infrastructure.