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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:

New Civic, FCA UAW Agreement, Frankfurt | Autoblog Minute

FCA reaches a tentative agreement with the UAW, Honda reveals the all new 2016 Civic, and the Frankfurt Motor Show dazzles us again.Senior editor Greg Migliore reports in the Weekly Recap edition of Autoblog Minute Weekly. UAW/Unions Bentley Honda Jaguar Porsche Tesla Autoblog Minute Videos Original Video FCA porsche mission e civic

Bentley Continental GT takes off with Breitling Jet Team

Of all the automakers that have co-branding deals in place with watchmakers, the relationship between Breitling and Bentley ranks among the longest-standing. But aviation aficionados will also point out that Breitling – ever the favorite of pilots – also supports a team of aerobatic pilots called the Breitling Jet Team. Now the three have come together to create a special run of luxury automobiles. The Bentley Continental GT Speed Breitling Jet Team Series, as you might have guessed, is based on the Continental GT Speed that stands as the fastest model Bentley has ever offered. Which is a good starting point, because despite the "jet" part of the name, they have not actually put a turbine engine under the hood. Jaguar (among others) has tried that, and it has yet to work out. What sets apart this special series is entirely cosmetic, carried out by Bentley's Mulliner customization department. It has a two-tone paint job of Hallmark and Onyx (which may look purplish in the pictures but the scheme is listed as silver and black in the Bentley catalog), matching the livery on the jets themselves. It's accented with Breitling's signature yellow. The color scheme continues inside, with carbon-fiber trim, more yellow accents, and little thematic Easter eggs throughout. Whether the result looks like a promotional vehicle or a sleek take on the vehicle of choice for every entrepreneur who strikes it big, that's a matter of taste. And if you want to see one up close, you'll have to go to Seattle at the end of July. That's where Bentley will present the only seven examples it will make to their owners. The presentation will be made individually by the pilots at the Boeing Seafair Airshow – but only after what's sure to be the ride of their life on board one of the team's L-39 Albatros jets. BENTLEY CONTINENTAL GT SPEED BREITLING JET TEAM SERIES LIMITED EDITION - Seven limited edition Continental GT Speeds inspired by famed jets - Handcrafted models take Mulliner customisation to new heights - Continental GT Speed is fastest production Bentley ever - Models to debut at Boeing Seafair Airshow, Seattle, July 31 (Crewe, 30 June 2015) Bentley is taking its fusion of luxury and performance to new extremes with the launch of the Continental GT Speed Breitling Jet Team Series. This exclusive series is limited to just seven cars, each inspired by one of the seven Breitling Jets.