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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:

Why this could be the perfect time for Apple to make a car play

While the automotive and technology worlds have been pouring billions into autonomous vehicles (AVs) and preparing to bring them to market soon as shared robo-taxis, Apple has mostly sat on the sidelines. Of course, Apple is the last company to ever make its intentions known, and the super-secret tech cult giant hasn't been totally out of the AV game based on the clues that have slipped out of its Cupertino, Calif., citadel over the past few years. Related: Apple self-driving cars are real — one was just in an accident News first broke in 2015 that it had assembled an automotive development team, in part by poaching high-profile talent from car companies, to work on a top-secret self-driving vehicle project code-named Titan. (Thank you very much, Nissan.) Apple also subsequently broke cover by making inquiries into using a Northern California AV testing facility and receiving a permit to test AVs on public roads in California. But then as the AV race started to heat up in the last few years, Apple reportedly began scaling back its car activities by downsizing team Titan. More recently, Apple's car project has shown signs of life with the hiring a high-level engineer away from Waymo and luring one Tesla's top engineers and a former employee back to Apple. It also inked a deal with Volkswagen to provide a technology platform and software to convert the automaker's new T6 Transporter vans into autonomous shuttles for employees at tech company's new campus. That is a far cry from giving rides to Wal-Mart shoppers, like Waymo is doing as part of its AV testing in Phoenix. But this could be the perfect time for Apple to enter the AV market now that ride-sharing is reaching critical mass and automakers and others are planning to deploy fleets of robo-taxis. Apple could easily establish a niche as a high-end ride-sharing service – and charge a premium – given its cult-like brand loyalty and design savvy. The growth of car subscription models could also play in Apple's favor since is already has many people hooked on paying for phones in monthly installments – and eager to upgrade when a new and better model becomes available. To achieve this, some believe Apple will fulfill co-founder and CEO Steve Job's dream of building a car. And as the world's first and only $1 trillion company it's sitting on a mountain of cash that certainly gives it the means. But other tech darlings like Tesla and Google have discovered how difficult it can be to build cars at scale.

Auction for first US VW e-Golf raises $41,400 for Global Green charity

Would having Jay Leno on hand have changed the outcome? That's what executives at Volkswagen might be asking after the German automaker auctioned off the company's first electric car in the US for around $6,000 over MSRP. VW auctioned off the first Volkswagen e-Golf in the US to raise money for the environmental non-profit Global Green USA. Bruce Oberg, an EV enthusiast and previous VW owner, proudly cut a $41,400 check for the car, which has a 116 miles per gallon-equivalent rating and is said to be able to go about 80 miles on a single charge. At your local dealer (depending on where you live), the e-Golf starts at $35,445. Sales start later this month in 11 states: California, Massachusetts, New York, Vermont, Oregon, Maine, Maryland, New Jersey, Connecticut, Rhode Island and Washington, DC. The $6,000 premium for first-dib rights for the e-Golf is nice, but it doesn't compare to what BMW worked out this summer. In August, the first i8 plug-in hybrid in the US was auctioned off at California's Pebble Beach Concours d'Elegance for $825,000 (to an unidentified buyer). That's about six times the car's sticker price, but this special edition came with Louis Vuitton luggage and was presented by noted car buff Leno. VW's press release below. VOLKSWAGEN E-GOLF RAISES MONEY TO BENEFIT GLOBAL GREEN USA AFTER A SUCCESSFUL CHARITY AUCTION Nov 4, 2014 Winning bidder claims first VW electric vehicle as the car begins to ship to select U.S. dealerships Herndon, VA (November 4, 2014) – Volkswagen of America, Inc. today announced that the auction of the first 2015 all-electric Volkswagen e-Golf has raised $41,400, with proceeds benefitting the national environmental non-profit Global Green USA and its efforts to advance smart solutions to climate change. The winner of the auction, which ran from October 8–29 on CharityBuzz.com, became the first U.S. driver to own Volkswagen's all-new, fully-electric vehicle. "Volkswagen's commitment to e-mobility and sustainability runs deep. We could not be more proud that the e-Golf has helped raise money to benefit the efforts of Global Green USA, an organization that shares in our dedication to the environment," said Michael Horn, president and CEO, Volkswagen Group of America, Inc.