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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:

Audi to spend $17 billion to fight BMW

It's no secret that VW Group, parent company to not only Volkswagen but also Audi, Bugatti, Bentley, Lamborghini, Porsche and Ducati brands sold in the US, is determined to become the world's largest automaker. Even more impressive is that VW is prepared to spend billions to make it happen.
With that comes word that VW Group will be spending $17 billion on its Audi brand over the next three years to push itself above rival BMW. The money will be invested in both vehicle development (including lightweight auto design and alternative powertrains) and facilities (including expansion in Hungary, China and new operations in Mexico). The luxury brand is focused on global manufacturing infrastructure.
Already Europe's best-selling luxury brand, Audi's objective is to overtake BMW by the end of the decade by selling more than two million cars per year (BMW is shooting for 1.54 million sales in 2013). If those objectives are met, VW Group should be on track to be the industry's volume leader by 2018.

Watch Audi's Emmy promo, starring Bryan Cranston, Aaron Paul and Julia Louis-Dreyfus

A lot of online videos try way too hard to be funny, but the promo from Audi for the 66th Emmy Awards on Monday, August 25, shows that if you put faith in a proven group of hilarious actors, you can strike comedy gold. The short film reunites Breaking Bad stars Bryan Cranston and Aaron Paul as the proprietors of a pawnshop of rare and obscure items called Barely Legal Pawn. They have their own fictional reality show (which really needs to exist) that rips off Pawn Stars, and this segment has comedy veteran Julia Louis-Dreyfus coming in to sell her Emmy award for Best Supporting Actress in a Comedy as Elaine on Seinfeld. Louis-Dreyfus also pays the title sponsor's bills by subtly incorporating a 2015 S3 into the otherwise car-free gag.
It would ruin the video to spoil any of the jokes; you just need to watch it. Cranston actually bridges the gap here because way before he became famous as Walter White on Breaking Bad, he had a recurring guest role on Seinfeld as dentist Dr. Tim Whatley. If you're a fan of either show or just need a hearty chuckle for today, this one is definitely for you because all three former Emmy winners put in fantastic performances.