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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:

Bentley confirms SUV for 2016

It looks like the addition of a Royal Baby isn't the only big news coming out of the UK this week. Bentley has ended all of the will they/won't they speculation by confirming today that it will produce an SUV. Earmarked to go on sale in 2016, the as-yet unnamed Bentley SUV will help create an extra 1,000 jobs in the UK.
While no concrete details have been released, Bentley says that it will be the "most luxurious and most powerful SUV" on the market. Past rumors have indicated that the SUV could look completely different from the 2012 EXP 9 F Concept shown above, be renamed the Falcon and offer options like a plug-in hybrid version and three-row seating. To prepare for a fourth model in its lineup, Bentley will be investing 800 million British pounds (around $1.2 billion USD) into its Crewe headquarters and production lines over the next three years. Scroll down for Bentley's press release officially confirming the new SUV.

Bentley EXP 10 Speed 6 gets positive reactions on auto show circuit

Bentley is in the midst of a world tour with its EXP 10 Speed 6 concept. Unveiled at the Geneva Motor Show last month, the concept subsequently appeared in New York and now in Shanghai, and will stop in the Middle East on its way back home to England. The purpose: to gauge reactions from potential customers. And so far it's reportedly been pretty good. Speaking with Autocar in Shanghai this week, Bentley CEO Wolfgang Durheimer said most of the potential buyers who spoke to the company after seeing the concept have encouraged Crewe to build it. The only adjustments it's been asked to make were to the front end. Those LED ring headlights look interesting, but would be unlikely to make production. And the grille would likely be more swept back than upright. The process is similar to how Bentley is evolving the EXP 9 F crossover concept into the production Bentayga. The company is listening to customers about what they like and don't like, and adjusting accordingly. Of course none of that means that the EXP 10 Speed 6 will actually see production. It would still need the green light from parent company Volkswagen, which has been cutting back on development spending lately. And with the Bentayga yet to reach showrooms, Bentley has its hands full at the moment. But the segment in which this luxury GT would compete – against the likes of Aston Martin and Maserati – is not one where the VW group really participates at the moment. Neither Lamborghini, Audi nor Porsche have a front-engined sports car in this segment, with only Bentley's own Continental GT coming close. The potential to take a slice of a different pie could prove enough to convince the powers in Wolfsburg to sign off on the EXP 10 Speed 6, especially if it can be based on an existing architecture and shared with other divisions. Related Video: