Audi CEO says brand’s EVs are almost as profitable as its other cars

After, oh, 100 years or so of constructing autos primarily powered by inner combustion engines, automakers around the globe have been and nonetheless are pumping billions of {dollars} into the event of electrical car expertise. Everything from platforms and batteries to motors and the software program to regulate all of it requires untold hours of improvement, and that takes money and time. Fortunately, it is not going to take lengthy for that huge funding to begin paying off, no less than in line with Audi CEO Markus Duesmann, who instructed 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 model, Audi contributed greater than 1 / 4 of general revenue for the large Volkswagen Group, which has such powerhouse manufacturers as Volkswagen and Porsche amongst others. Under the Audi umbrella are Lamborghini, Bentley and Ducati, and it appears these high-end branches aren’t going wherever, no less than for now. “These brands … are very valuable very profitable brands, where we can even expand the synergy level in the future,” Duesmann mentioned within the interview. “There are no plans whatsoever to get rid of them.”

Despite the general profitability of the model, the continued international chip disaster is inflicting complications. “We had a very strong first half in 2021. We do expect a much weaker second half,” mentioned Duesmann, who added, “We really have trouble.” In truth, so severe is the difficulty that the model is pressured into “a day-to-day troubleshooting process” to restrict the chip-shortage harm. The excellent news for the automaker is that Audi has been in a position to enhance its revenue margin from 8% previous to the pandemic in 2019 to 10.7% within the first half of 2021. The dangerous information is that varied chip shortages aren’t anticipated to get a complete lot higher over the remainder of the yr.

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