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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:

Audi CEO's Dieselgate arrest threatens fragile truce among VW stakeholders

FRANKFURT — The arrest and detention of Audi's chief executive forces Volkswagen Group's competing stakeholders to renegotiate the delicate balance of power that has helped keep Audi CEO Rupert Stadler in office. Volkswagen's directors are discussing how to run Audi, its most profitable division, following the arrest of the brand's long-time boss on Monday as part of Germany's investigations into the carmaker's emissions cheating scandal. The supervisory board of Audi, meanwhile, has suspended Stadler and appointed Dutchman Bram Schot as an interim replacement, a source familiar with the matter said on Tuesday. Schot joined the Volkswagen Group in 2011 after having worked as president and CEO of Mercedes-Benz Italia. He has been Audi's board member for sales and marketing since last September. The discussions risk reigniting tensions among VW's controlling Piech and Porsche families, its powerful labor representatives and its home region of Lower Saxony. VW has insisted the development of illegal software, also known as "defeat devices," installed in millions of cars was the work of low-level employees, and that no management board members were involved. U.S. prosecutors have challenged this by indicting VW's former chief executive Martin Winterkorn. Stadler's arrest raises further questions. Audi and VW said on Monday that Stadler was presumed innocent unless proved otherwise. Munich prosecutors detained Stadler to prevent him from obstructing a probe into Audi's emissions cheating, they said on Monday. Stadler is being investigated for suspected fraud and false advertising. Here are the main factors deciding the fate of Audi. Background: Audi's role in Dieselgate Volkswagen Group was plunged into crisis in 2015 after U.S. regulators found Europe's biggest carmaker had equipped cars with software to cheat emissions tests on diesel engines. The technique of using software to detect a pollution test procedure, and to increase the effectiveness of emissions filters to mask pollution levels only during tests, was first developed at Audi. "In designing the defeat device, VW engineers borrowed the original concept of the dual-mode, emissions cycle-beating software from Audi," VW said in its plea agreement with U.S. authorities in January 2017, in which the company agreed to pay a $4.3 billion fine to reach a settlement with U.S. regulators.

Audi Prologue Avant puts new styling focus on wagons

As much as we loved the Audi Prologue Concept that debuted late last year at the LA Auto Show – and, suffice it to say, we liked the first Prologue a lot – this new Prologue Avant from the German automaker may just rock our socks that much further off our feet. We have very little by way of actual, concrete details on what's under the angular wagon-shaped skin of the Prologue Avant, but we'd be perfectly content if it kept the previous two-door's 4.0-liter twin-turbo V8 in place underhood, augmented as it was when it was again shown at CES last month with a hybrid-assist system that put total system horsepower at 677, along with a meaty 701 pound-feet of torque. With all that power routed to all four wheels through an eight-speed automatic transmission, the 0-60 time of just 3.5 seconds strikes us as plenty quick. The powertrain details hardly seem the point of this new concept from Audi, in any case. Clearly, the big deal is the new bodywork, which builds upon the beautiful foundation of the original Prologue coupe with an elongated wagon shell and three additional doors (two rear doors and a rear hatch). The attractive body sits low to the ground on exaggerated 22-inch wheels, according to Auto Express. We note high-tech lighting elements front and rear and a modified front fascia with a bit more brightwork than the previous version. Assuming there's a bit of future reality baked into the Prologue Avant – which we believe is likely, considering that the coupe we salivated over in LA was said to point the way forward for the brand – it's safe to say we're in eager anticipation of the next several years at Audi. Have a good look at the images that have so far been released, and feel free to let us know what you think. We're sure Audi is interested in hearing your opinions, too. Related Video: News Source: Audi via Auto Express Design/Style Geneva Motor Show Audi Wagon Concept Cars Future Vehicles Hybrid Luxury Performance 2015 Geneva Motor Show