Porsche has upped its target for electric sales to 80% by 2030 after buoyant sales over the past twelve months while confirming plans for an IPO and possibly later this year.
The Stuttgart-based automaker delivered more than 300,000 vehicles in fiscal 2021, the first time it has achieved that in its 91-year history and clocking an increase of 11% over fiscal 2020.
Almost 40% of those vehicles were partially or fully electric.
Sales of Porsche's all-electric Taycan saloon overtook those of the iconic 911 sports car even though the 911's 38,464 units were a record for the 58-year-old coupe.
More than 41,000 Taycans were sold in 2021.
Porsche, which is controlled by VW through a convoluted share structure involving the Porsche and Piech families, notched up sales of €33.1bn (£27.9bn) in 2021 or a 15% increase on pandemic-hit 2020.
Operating profit jumped by 27% to €5.3bn (£4.48bn).
"Strategically, operationally and financially, Porsche is in an excellent position. We are therefore looking to the future with confidence, and welcome the consideration of an IPO of Porsche AG,” chief financial officer Lutz Meschke said in a statement.
“This would allow Porsche to raise its profile and increase its entrepreneurial freedom. At the same time, Volkswagen and Porsche could continue to benefit from joint synergies in the future,"
The luxury car makes warned however that Porsche that material and chip shortages had affected supply chains at some plants supply chains and some were running behind schedule.
Chairman of the executive board Oliver Blume added: "Our industry is experiencing what is probably the greatest transformation in its history. We set a strategic course early on and are robust on the operational front."
The Taycan and plug-in hybrid versions of the Panamera and Cayenne accounted for nearly 40% of its global sales, with plans to reach 50% by 2025.
"The Taycan is 100% a Porsche and inspires all kinds of people, existing and new customers," said Blume.
"We are stepping up our electric offensive with another model. By the middle of the decade, we want to offer our mid-engine 718 sports car exclusively in an all-electric form."
To help support its electrification, Porsche said it will build premium charging stations as well its own charging infrastructure.