Audi Cutting Costs to Fund Electric Vehicle Onslaught

Audi Cutting Costs to Fund Electric Vehicle Onslaught

0 comments 📅01 August 2017, 18:15

Audi is looking to cut costs by $12 billion by 2022 in systematization to fund the development of more electric vehicles.

The German automaker plans on introducing five all-new EV models in the coming years, starting with a new SUV based on the e-Tron Quattro Concept in 2018. But while making all that encounter, Audi wants to maintain its operating profit margin at eight percent a year, which means scathing costs while it develops new cars. Automotive News reports a bulk of the bring in savings would come from the company’s research and development budget.

Audi also plans to unconfined up funds by sharing the costs of development with Porsche, which also falls junior to the Volkswagen Group. Porsche and Audi will share components and modules on moving vehicles, which makes sense considering Porsche is also planning a beefy push in the electrified market.

Volkswagen Group is still reeling financially from the ‘dieselgate’ scandal,  having to stock with a significant number of recalls and also various prosecutor investigations.

[Source: Automotive Information]

This article first appeared on AutoGuide

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