Sports car maker Porsche is set to close its electric vehicle charging network in China as the German brand continues to lose share in the world's largest car market.
The Volkswagen unit, which operates about 200 chargers in China, said it would gradually deactivate them starting in March, Bloomberg reported.
However, the German company plans to continue working with external filling suppliers.
A Porsche representative in China said that the business adjustment only applies to Porsche premium charging, while other charging methods remain operational as usual, Tanjug reports.
The remaining chargers include those installed in Porsche showrooms, as well as in hotels and golf clubs.
Porsche faces challenges on multiple fronts, with its sales in China falling 26 percent in the first nine months as a weakening economy has impacted consumption, while domestic brands are gaining market share at the expense of established brands.
The German company has repeatedly cut its forecasts this year after delaying the introduction of new electric vehicles, and its shares have fallen more than 20 percent this year.
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