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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:

Lamborghini and Bentley may hold off on SUVs so VW can conserve cash

After surveying the European economic scene, Volkswagen may have decided now is not the time to launch utility vehicles with Bentley and Lamborghini badges. Bentley officials say they will continue to push for support for the EXP 9 F and Lamborghini CEO Stephan Winkelman has said planning for the Urus will continue until VW tells it to stop.
That decision could come on November 23, when VW's board will vote on the company's budget for equipment, factories and vehicles. With VW's sales slowing and the Euro economy slumping further, some industry watchers say the company is more likely to build its cash reserves than to introduce super-expensive luxury SUVs or crossovers.
"Such vehicles are anything but obligatory during a crisis," says Frankfurt-based Equinet AG analyst Tim Schuldt in a new Automotive News Europe story. "Delaying their launch would be no drama but help save costs."

Bentley announces its fifth model will debut May 10

Bentley announced it would debut "a fifth model" on Tuesday, May 10 to join the Continental GT, Continental GTC, Flying Speed and Bentayga. The notice included all kinds of wordplay suggesting extra length and roominess, Crewe members having "gone to new lengths" on the "long-awaited" vehicle that will bring "an extra dimension of on-board wellness," and so on. We can't be certain of what's coming, but we're willing to place a large wager that it's the extended-wheelbase Bentayga. A prototype of the stretched family conveyance with an enlarged wheelbase and grandiose rear doors was caught testing at various points throughout 2021. And the door card in the teaser vid matches that of the Bentayga, not that of the only other four-door Bentley makes, the Flying Spur. Step inside. 12:30 BST, 10.5.2022 pic.twitter.com/4H7YENbtTz — Bentley Motors (@BentleyMotors) April 29, 2022 We don't know how much additional knee space Bentley will grant to back-seat VIP types; were this another era, we're sure Bentley would never quantify it beyond "more ample." We'll find out on May 10. There could be other changes in store for the variant as well, the automaker promising "a breadth of capabilities beyond anything previously offered." If the teaser is correct, there's a nifty shade of purple on the way, too. Related video: