12 A5 2.0t Coupe, 19 Wheels, Navi, Bang & Olufsen, We Finance! Free Shipping! on 2040-cars

Auto blog

Audi CEO says brand's EVs are almost as profitable as its other cars

After, oh, a hundred years or so of building vehicles primarily powered by internal combustion engines, automakers around the world have been and still are pumping billions of dollars into the development of electric vehicle technology. Everything from platforms and batteries to motors and the software to control it all requires untold hours of development, and that takes time and money. Fortunately, it's not going to take long for that massive investment to start paying off, at least according to Audi CEO Markus Duesmann, who told Reuters in an interview that "The point where we earn as much money with electric cars as with combustion engine cars is now, or ... next year, 2023. They are very even now, the prices." As a brand, Audi contributed more than a quarter of overall profit for the massive Volkswagen Group, which has such powerhouse brands as Volkswagen and Porsche among others. Under the Audi umbrella are Lamborghini, Bentley and Ducati, and it seems those high-end branches aren't going anywhere, at least for now. "These brands ... are very valuable very profitable brands, where we can even expand the synergy level in the future," Duesmann said in the interview. "There are no plans whatsoever to get rid of them." Despite the overall profitability of the brand, the ongoing global chip crisis is causing headaches. "We had a very strong first half in 2021. We do expect a much weaker second half," said Duesmann, who added, "We really have trouble." In fact, so serious is the trouble that the brand is forced into "a day-to-day troubleshooting process" to limit the chip-shortage damage. The good news for the automaker is that Audi has been able to boost its profit margin from 8% prior to the pandemic in 2019 to 10.7% in the first half of 2021. The bad news is that various chip shortages aren't expected to get a whole lot better over the rest of the year. Related video:

Mercedes chief invites Audi, BMW to compete in F1

Mercedes-Benz didn't just win the Formula One World Championship in 2014 – it positively dominated it. The team won all but three of the grands prix this season, scoring a one-two finish at more than half of them and landing at least one car on the podium at every race without exception. It goes without saying, then, that the German automaker thrives on competition, but now it's welcoming even more. Speaking with Germany's Sport Bild at its homecoming celebration in Stuttgart, Daimler chief Dieter Zetsche welcomed Mercedes' biggest rivals Audi and BMW to join it on the F1 grid. Noting that the three German brands share some 80 percent of the market for luxury automobiles, Zetsche said that F1 would make a natural arena of competition for Mercedes, Audi and BMW to fight for top bragging rights. The three currently compete against each other in front of home audiences in the DTM touring car series – effectively Germany's equivalent to NASCAR – but of the ten races held this year, the majority were in Germany itself, and all of them took place in Europe. BMW last competed in F1 when it bought the Sauber team in 2006, but withdrew from the series in 2009. Despite its progenitor Auto Union having fielded the famous Silver Arrows in pre-war grand prix racing, Audi has never been a player in modern F1 racing, though recent rumors have linked it to a potential foray – spurred by the arrival of sister-company Porsche on its home turf at Le Mans, the departure of several of its key endurance drivers and the hiring of former Scuderia Ferrari chief Stefano Domenicali. Porsche had similarly considered an F1 program before getting the go-ahead to compete with Audi at Le Mans. As for the prospect of Mercedes competing in other international racing series, Zetsche added that year-long preparations for 24 hours of racing at Le Mans didn't present a good cost-benefit ratio in his estimation, but that Formula E (where Audi currently supports a quasi-works entry) would be worth a closer look.

Recharge Wrap-up: Audi 'Plugging In' video, Citroen e-Mehari rumors

Audi is sponsoring the Newport Folk Festival with its "Plugging In" campaign. In celebration of the event, a video shows the history of the festival, and how plugging in the electric guitar changed music, similar to the way plugging in an electric vehicle changes the way we think about transportation. The video is focuses entirely on music, but at the end, we get the (ahem) plug from Audi: "Audi A3 Sportback e-tron — Plugging In Across America." Watch it above. The first image from Tesla's Firmware 7.0 update has made its way online. The photo shows what appears to be Tesla's new Autopilot feature. The view of the display also suggests that beta testing is happening on main roads between San Francisco and Tesla's home in the tech hub of Silicon Valley. See the photo and read more at Teslarati. The IRS has published a notice regarding its tax code overseeing the treatment of biodiesel credits. It says that, among other things, claimants must reduce their income tax deduction by the amount of the credits given for alternative fuel used or sold during a given quarter in 2014. Biodiesel producers and blenders were eligible for a tax credit of $1.00 per gallon. Read the notice from the IRS, or learn more from Biofuels Digest. Rumors suggest that Citroen will unveil a concept EV based on the C4 Cactus and classic Mehari at the Frankfurt Motor Show. L'Automobile Magazine is reporting that the French automaker has registered the name "e-Mehari," leading to speculation — and even a goofy rendering — from L'Automobile. There has been no official acknowledgement of the e-Mehari from Citroen, so let's not get too excited yet (especially you, Mr. Ewing). Read more from Technologic Vehicles, or in the (Google-translated) post from L'Automobile Magazine. Related Gallery 2015 Citroen C4 Cactus View 32 Photos News Source: YouTube: Newport Folk Festival, Teslarati, Biofuels Digest, IRS, Technologic Vehicles, L'Automobile Magazine Government/Legal Green Marketing/Advertising Rumormill Audi Tesla Citroen Alternative Fuels Biodiesel Concept Cars Electric Videos recharge wrapup