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Audi reduces costs for financing an electric vehicle

Audi aims to cut costs by 10 billion ($ 12 billion) by 2022 to help finance the transition to electric vehicles, as it seeks to move further after the scandal with emissions, sources close to the automaker said.

30.Jul.17 2:31 PM
By Daria Zaytseva


Audi reduces costs for financing an electric vehicle

Audi, in the coming years plans to release five new all-electric models, starting with the sporty e-tron SUV, which will be assembled in 2018 in Brussels.

Despite the start-up costs for its electromobile program, the luxury car maker wants to keep its operating profit margin at 8 % per year, at least two sources close to Audi said. Its profitability in the first half of this year was 8.9 %.

Sources said that the bulk of the savings of 10 billion would account for a reduction in research and development costs.

Audi also seeks to free up funds for zero-emission technology investments by developing a new production platform with Porsche, allowing both VW premium brands to save money by sharing components and modules.

Audi copes with reviews of cars, investigations by prosecutors and constant criticism from trade unions and managers about the scandal with diesel emissions and its strategy after diesel fuel.

Sources told Reuters on Friday that four of the top seven brand managers will be targeted for dismissal in the near future. On Sunday, sources said that dismissals were discussed by members of the supervisory board members last Thursday, but an official decision has not been taken yet.

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