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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:

Build your dream garage with this insane prize from Omaze

Autoblog may receive a share from purchases made via links on this page. Pricing and availability is subject to change. No donation or payment necessary to enter or win this sweepstakes. See official rules on Omaze. Normally when we write about Omaze sweepstakes, they involve a car that you'd never go out and buy on your own. A six-figure camper van build, a $300,000 Ford Bronco restoration, a Land Rover Defender that's so beautiful it should be in a museum. Today's prize might beat out all of those, because not only could you win a dream car, you'll be entered for a chance to win $100k cash to go along with it.  There are a lot of cars you can buy with $100k. You could buy a Land Cruiser Heritage Edition or a Mustang GT500 or 6 Chevy Sparks and start your own racing series. Personally, if I won that kind of dough, assuming I also won this Bentley Bentayga, my favorite of Omaze's current offerings, I'd probably use some of it to buy something quirky, like a Honda Element converted into a pop-top camper, or a restored/upgraded 60 series Land Cruiser. Think that's a terrible way to spend the cash? That's the beauty of it. It is completely up to you. No one can tell you what to do with it. Except maybe your spouse.  Here are our favorite vehicle giveaways we’ve found online this week: 2021 Ford Mustang Mach-E GT Performance Edition - Enter at Omaze Regardless of what you think about Ford using the name Mustang for an electric crossover, one thing is for certain, the Mustang Mach-E GT is an impressive piece of machinery. Here are some numbers for you: 480 horsepower, 634 lb-ft of torque, 0-60 in 3.5 seconds and 260 miles of range. Price? Well, thatÂ’s really up to you, because if you enter to win this Mach-E GT. it can be as low as $0. Here are the specs of the Mach-E in question, according to Omaze: Maximum Seating: 5 Engine: fully electric motors Drivetrain: eAWD Exterior Color: Rapid Red Metallic   Interior Color: Black Maximum Horsepower: 480 hp  Maximum Torque: 634 lb-ft Acceleration: 0-60 in 3.5 seconds Range: 235 miles Approximate Retail Value: $75,500 Cash Alt: $56,625 Special Features: GT Performance Edition; panoramic fixed-glass roof; Ford Co-Pilot360™ Active 2.0 and 360-degree camera; Brembo brakes; RTR Design Package including 20” RTR Aero 5 wheels, Nitto NT555 G2 tires and RTR Speed Block graphics Win a Restored 1969 Pontiac GTO - Enter at Omaze Joel Stocksdale, News Editor: There are an awful lot of ways to build a restomod.

Porsche Classic puts modern navigation in older cars [w/video]

People drive classic vehicles for many, many reasons. Maybe it's because they're cool, or they bring back memories, or perhaps they just want to take a trip back in time, before the days of adaptive cruise control, massaging seats and satellite navigation. You know, back to when driving was about, well, driving. Someone did not mention this reasoning to Porsche, because the German company has decided to offer the tiniest, most ridiculous in-dash navigation system we've ever laid eyes on, through its Porsche Classic line. Because, you know, people don't own smartphones nowadays. In fact, most smartphones are significantly bigger than Porsche's new nav setup. The touchscreen is just 3.5 inches in size, although its graphical layout is clean and in line with the company's more modern offerings. It also integrates a new entertainment system, which adds Bluetooth connectivity and a 4x45 watt amp. The system is being offered for a wide array of vintage Porsches, ranging from the most modern, air-cooled 993s, all the way back to the earliest 911. Four-cylinder and V8 models, as well as front and mid-engine cars, can be fitted with the nav system, too. Porsche Classic has priced the new system at the frankly absurd price of 1,184 euros ($1,344 at today's rates), though we're sure a large number will indeed be sold and installed. Dedicated US pricing is still pending. Check out Porsche's rather silly video of the system in action, available alongside the full press release below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. PORSCHE CLASSIC BRINGS OUT NEW NAVIGATION RADIO FOR CLASSIC SPORTS CARS True-to-style upgrade with state-of-the-art technology Atlanta. Classic on the outside yet ultra-modern on the inside: with its newly developed navigation radio, Porsche is responding to the growing demand for a built-in device for classic sports cars. The purpose-built unit combines the style of yesteryear with the benefits of modern technology. It fits perfectly into the DIN-1 slot that has been used in the sports cars for decades and is operated by means of two knobs, six discreetly integrated buttons and a touch-sensitive 3.5-inch display. Thanks to the appearance of the black surface and the shape of the knobs, which are supplied in two authentically styled versions as standard, the navigation radio blends harmoniously into the dashboard of classic Porsche models.