Porsche Halts EV Battery Production Plans Amidst Market Slowdown

German luxury carmaker Porsche has abandoned its ambitious plan to produce electric vehicle (EV) batteries, citing a lack of global demand as a primary reason. The company’s subsidiary Cellforce will now shift focus to research and development, impacting job roles in the process. This decision comes amidst a broader slowdown in the EV market, with major players like China and the US seeing a decline in consumer interest for electric vehicles.