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…