Porsche has abandoned its sales targets for electric vehicles (EVs) amid waning demand from customers.

The German car manufacturer previously said that EVs would account for 80pc of its new vehicle sales by 2030. But bosses have now watered down that goal, saying sales will depend on uptake and how the technology develops around the world.

It comes after a slew of rival car companies watered down plans for electric models, cast doubt on customer enthusiasm for the technology and expressed support for low-carbon alternatives to petrol known as e-fuels.

Porsche said: “The transition to electric vehicles will take longer than we assumed five years ago.

“Our product strategy is set up such that we could deliver over 80pc of our vehicles as all electric in 2030 – dependent on customer demand and the development of electromobility.”

Oliver Blume, Porsche’s chief executive, said as recently as March that the company would “stay true” to its target.

However, Porsche has also been keen to emphasise its ability to react to swings in demand, with its factory in Leipzig capable of making fully electric cars, plug-in hybrids and combustion engines on one production line.

Carmakers including Mercedes-Benz and Renault have scaled back their EV targets in recent months and even Tesla has softened its sales forecasts amid signs consumers are reluctant to make the switch from petrol and diesel models.

German car brands are particularly exposed to China, where EV sales have been hit by an economic slowdown and consumers are increasingly opting for cheaper, local models.