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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:

Porsche-Piech buy 10% stake in VW's holding company

In August, 2009, as the scuttled merger of Porsche and Volkswagen had gone bad and Porsche was backed up against the ropes, Porsche Automobil Holding SE (PAHSE) relinquished a ten-percent stake in itself to Qatar Holdings as well as options it held on 17 percent of VW shares. The sale meant that, for the first time since the founding of the company 61 years before, an entity outside the Porsche and Piech families had a say in the running of PAHSE.
Buying that ten-percent stake back returns full ownership to the two families, the holding company's sole possession being ownership of 50.7 percent of VW's common shares. The price paid wasn't disclosed, but at market rates the purchase would be worth close to $1.25 billion. Qatar intends to hold onto the 17-percent stake it has in Volkswagen.

Porsche Cayman GT4 speeds back into view

We're all familiar with the succession of numbers that follow the letters GT on a hard-core Porsche 911: the GT1 that was Stuttgart's Le Mans contender in the late 90s, the GT2 that packs turbochargers but without the Turbo's all-wheel drive and excess weight, and the naturally aspirated GT3 that's the enthusiast's choice. But a GT4? That's something new, and exactly what Porsche has in store.
Spied testing in Germany once again is the upcoming GT4 version of the Porsche Cayman, set to supersede the existing GTS and take the place of the previous Cayman R at the top of Porsche's junior sports car range. This latest batch of spy shots doesn't show us much more than the last crop, but gives us a much clearer view at what promises to be the most hardcore Cayman to date.
As you can see, the Cayman GT4 packs a much more aggressive aero kit and rolling stock than any version we've seen to date. It's got a lip spoiler, big air dam and GT3-style vent in front of the hood, deep air scoops along the flanks, a set of spindly alloys packing oversized brakes, a diffuser with twin central exhaust tips around back and a rear wing that's likely to be replaced with a sleeker unit before the GT4 reaches production.