Porsche already has one electric SUV in its lineup – the Macan Electric – but it’s about to give it a big brother in the form of the 2026 Cayenne Electric, which debuts late this year. Our spy photographers have captured a pair of prototypes testing, but far from being identical twins, they feature some important differences.

Both models are still wearing the fairly heavy camouflage we’ve seen on previous prototypes over the past 12 months. The disguise covers parts of the front and rear bumpers and the lower sections of the doors. But it doesn’t prevent us noticing that only one of the SUVs has what appears to be active aero flaps in the lower bumper, just like the ones seen on the new 911 GTS T-Hybrid. It also has a splitter attached to the lowest point of the bumper, suggesting it’s a performance version, perhaps a GTS.

Related: 2027 Porsche Cayenne Coupe Goes Electric In New Spy Shots

The other Cayenne doesn’t have the lower lip spoiler or the same active aero slats (though it’s possible they could still move). Instead it has a less macho bumper with horizontal bars and the ADAS sensor stands proud of the bumper surface, rather than being recessed, as on the other SUV.

This less performance-focused bumper appears to provide a better approach angle, so we could be looking at an off-road-themed Cayenne. That idea is backed up by the slightly flared rear arch lips on this Cayenne, which aren’t present on the one with the GTS aero flaps. Further confusing matters, only the non-flap SUV has boxy vents below its taillights.

When the full bumper disguise comes off we’re expecting to see a split headlight arrangement, just like the one on the Macan Electric and Audi’s Q6 e-tron and A6 e-tron. Those three are based around the same VW Group PPE platform that will also be used for the Cayenne EV in both standard and Coupe forms.

Entry-level Cayennes will probably also share their powertrains with mid- or high-spec Macans, which feature a 509 hp (516 PS / 380 kW) bi-motor setup in 4S trim and 630 hp (639 PS / 470 kW) in Turbo guise. And given the Taycan Turbo and Turbo S serve up 872 hp (884 PS / 650 kW) and 939 hp (700 kW / 952 PS), we imagine the hot Cayennes will be similarly potent.

The Cayenne Electric isn’t the only EV Porsche is working on. All-new, all-electric 718 Boxster and Cayman sports cars are on the way, and were set to debut this year, but that launch could be pushed back to 2026 as Porsche grapples with a performance EV market that hasn’t matured the way it hoped when it began planning these models more than five years ago.

Images: SHProshots

Porsche has laid out its latest product roadmap during its 2025 annual conference, shedding light on the future of its lineup. The biggest news? Beyond reaffirming its commitment to a mix of combustion engines, plug-in hybrids, and all-electric drivetrains across its entire lineup well into the 2030s, the automaker is now considering adding a new gas-powered SUV to its roster. If approved, this model could join the Macan EV and Cayenne by the end of the decade.

A New SUV in the Works

The company said that it’s currently “evaluating an independent model line in the SUV segment” that would take advantage of existing “synergies”. Recent spy shots suggest this unnamed Porsche could share the Premium Platform Combustion (PPC) architecture with the next-generation Audi Q5. However, Porsche promises the new SUV will feature a distinct design with its signature styling, a more upscale interior, and a chassis setup tailored to its brand identity.

More: 2027 Porsche Cayenne Coupe Goes Electric In New Spy Shots

Earlier this year, Porsche considered offering a new generation of the ICE-powered Macan to join the Macan EV. However, these plans have been officially scrapped, and a new, standalone SUV being picked instead. Porsche has confirmed that the Macan will be sold exclusively as an EV, after the combustion-engined version will be phased out from the remaining markets.

The Future of Macan and Cayenne

As for the Cayenne, Porsche describes the upcoming fourth-generation of the mid-size SUV as a “completely newly developed and designed electric model.” The Cayenne EV will be sold alongside the current third-generation model, which will continue to be available in combustion and hybrid forms “well into the 2030s.” Spy shots confirm that the electric model will come in both SUV and coupe-SUV body styles. However, Porsche made no mention of the rumored flagship SUV, codenamed K1, which is expected to debut in 2028.

Electric 718 and a New 911 Flagship

Porsche also said that the highly anticipated electric successors to the 718 Boxster and Cayman will arrive sometime after the Cayenne EV, effectively confirming previous reports of a delay. The company also dropped a few hints about upcoming additions to the 911 lineup.

The recently refreshed 911 will soon gain a limited-edition “heritage” model from Porsche Exclusive Manufaktur, inspired by retro 1970s styling. Additionally, an all-new flagship 911 is in the works, described as a model that will “raise the bar even further” in the sports car segment – likely hinting a next-generation 911 GT2 RS.

2025 Forecast and Workforce Reductions

Porsche expects a challenging year ahead, citing increasing competition from China and geopolitical instability as key concerns. As a result, the company anticipates a drop in sales for 2025, falling below the 310,718 units delivered in 2024 – a figure that was already down 3% compared to the previous year. The company also estimates that electrified vehicles will make up 33–35% of total sales, with fully electric models accounting for 20–22%.

More: Porsche’s High Prices And Outdated Tech Are Killing Its Sales In China, Could It Happen Here?

To adapt to shifting market conditions, Porsche plans to invest an additional €800 million ($872 million) this year, focusing on product portfolio adjustments, software development, and battery technology advancements.

However, these changes come at a cost. As part of an ongoing restructuring effort, Porsche will eliminate around 1,900 jobs by 2029 through a “restrictive hiring policy” and other “socially acceptable measures.” Additionally, the company plans to reduce its global workforce by another 2,000 through the expiration of fixed-term employment contracts. A further structural overhaul is currently under negotiation, with details set to be announced in the second half of 2025.

Leadership Changes at Porsche

Porsche has also made key changes to its Executive Board. Dr. Jochen Breckner has taken over responsibility for Finance and IT, succeeding longtime executive Lutz Meschke. Meanwhile, Matthias Becker has stepped in as the new head of Sales and Marketing, replacing Detlev von Platen.