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Audi to Cut Costs by €10 Billion to Support EVs
Volkswagen AG’s Audi unit intends to reduce research and product development costs by €10 billion between now and 2022 to help pay for developing and launching five all-electric cars, sources tell Handelsblatt.
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Volkswagen AG’s Audi unit intends to reduce research and product development costs by €10 billion between now and 2022 to help pay for developing and launching five all-electric cars, sources tell Handelsblatt.
The brand’s first such model, an electric crossover to be built in Brussels, is due next year. The car will be a production version of the upcoming Q6 crossover. Reuters says Audi will reduce EV development costs in part by co-developing and sharing an EV platform with sister division Porsche.
Both news outlets say Audi wants to maintain an operating margin of at least 8% during the period. The carmaker’s margin in the first half of 2017 was 8.9%.
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