Contrary to earlier reports, Porsche is not plotting a Panamera-based rival to the Tesla Model S. The same was confirmed by Porsche’s R&D boss, Wolfgang Hatz. The new Panamera will launch in 2016, and several iterations of it are expected. One of the versions, a smaller bodystyle, is expected to rival top-end BMW 5-series models.

While the smaller version of the Panamera is likely to make it to production, an all-electric version currently isn't possible, according to Hatz. “We are a sports car firm, and that brings with it certain expectations,” he said. “A Tesla is a fine car, but you cannot drive it enthusiastically without losing range or performance too quickly. Until the technology offers a solution to those problems, we will not be looking at launching such a car.”

Porsche and German authorities have been working on electric Boxster test cars since 2011, however, Hatz reiterated that the technology is still too new to warrant a consideration for production.“We are leading the way with plug-in technology, and our customers are happy with the benefits that it brings,” said Hatz. “For now, that is our focus.”