Porsche AG shares slid Friday after the German sports-car maker warned that profits will be hurt this year as it spends more on expanding its line-up of new cars.In a statement late Thursday, it said it would take an 800 million euro ($830.

Porsche will launch new gas-powered and plug-in hybrid (PHEV) cars as its EV models fail to gain traction. The

Porsche AG's shares fell 7% on Friday, the biggest drop among European firms and its worst day since listing on the stock market, after the carmaker warned that the cost of new models and battery-related expenses would dent its 2025 profits.

Porsche AG’s shares plunged after the sports-car maker said it will take an €800 million ($831 million) hit linked to revamping its lineup this year.

The sports-car maker warned that profits will be hurt this year as it spends more on expanding its line-up of new cars.