Piech Automotive is aiming for a very niche clientele.
Toni Piech is a brave man. The great-grandson of Porsche Founder Ferdinand Porsche, Piech started his own automotive company called Piech Automotive a couple of years ago. Ferdinand Porsche left behind some seriously big shoes to fill, but Piech seems up for the challenge after revealinged a two-seat electric sports car called the Piech GT in October. This car was previewed by the Mark Zero concept in 2019. With three electric motors and 611 horsepower, the GT will power its way to 62 mph in under three seconds. It also has a 311-mile range. Not many will have the opportunity to experience the GT's breathtaking power, however, as we now have an idea of what the sports car will cost.
According to Bloomberg, the Piech GT will sell for around 200,000 euros - the equivalent of over $225,000 - when it goes on sale in 2024. To put that into perspective, even the most expensive Porsche Taycan, the Turbo S, starts from only $185,000. It also has 750 hp and another pair of doors. Piech seems to be chasing the type of buyer who might consider something even more exclusive like a Bentley Continental GT. Price aside, Piech hasn't had things go entirely his own way in other aspects. The company's supervisory board chairman, former VW CEO Matthias Mueller, left the company because of "internal differences," and Piech was unwilling to speak further on the matter.
Still, Piech is committed to making Piech Automotive a car brand that stands the test of time. Along with the GT, he intends to develop both a four-seater limousine and an SUV, with intentions to produce around 10,000 cars annually. Piech believes his company's "asset-light strategy," whereby manufacturing is outsourced and suppliers will provide key technologies, will benefit its growth and ability to keep costs down.
"We're going for a niche market that's very stable and profitable," said Piech. "I'm trying to do this right. I can't put my name on this and fail."