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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:

Ford GT dominates Le Mans qualifying, gets slapped with performance adjustment

Fifty years after Bruce McLaren and Chris Amon drove the Ford GT40 to victory at the 24 Hours of Le Mans, Ford is poised for a historic return to the Circuit de la Sarthe. The new Ford GT took the top two qualifying positions in the LMGTE Pro class, and four of the top five. Ferrari's 488 filled in the rest of the spots in the top seven, the first two from AF Corse. In other words, we're primed for a reboot of the classic Ford-Ferrari feud at this year's race. Or not, as the ACO, which organizes the 24 Hours of Le Mans, announced sweeping pre-race Balance of Performance (BOP) adjustments this morning that make this year's GT class anybody's race. In LMP1, last year's overall winner Porsche locked up the top two spots with the 919 Hybrid and will lead the entire field at race start. Toyota's two-car factory effort followed with qualifying times 1.004 and 2.170 seconds behind the pole lap. Audi rounds out the manufacturer-backed LMP1 class in fifth and sixth. Full qualifying results can be found here. The storyline for the GT cars is perfect - some say too perfect. Ford's class-leading times came after BOP adjustment to the Corvette Racing C7.R before qualifying. BOP is intended to level the playing field in the class by adjusting power, ballast, and fuel capacity. (Check out this explainer video for more, or even just if you love French accents.) But the process is riddled with unknowns and ripe for accusations of sandbagging. That is, if the Ford cars were intentionally slow in practice they could hope for BOP adjustment to improve their race chances. On the Corvette side, last year's GTE Pro winner went from the top of the field to the bottom, barely improving from practice to qualifying. If you think Le Mans is as rigged at the NBA Playoffs, well, it's not that simple. Because if Ford and Ferrari held back until qualifying - the eighth-place Porsche 911 RSR is three-and-a-half seconds off the class pole time - it was a pretty dumb strategy. This morning, the ACO tried to put things back in order by limiting the boost in the Ford GT's twin-turbo V6 and adding 11 pounds of ballast. Ferrari was also given extra weight but allowed more fuel capacity. The Corvette and Aston Martin teams were both given breaks on their air restrictors, which will allow their engines to make more power. Both Ford and Porsche also received extra fuel capacity.

Recharge Wrap-up: Audi 'Plugging In' video, Citroen e-Mehari rumors

Audi is sponsoring the Newport Folk Festival with its "Plugging In" campaign. In celebration of the event, a video shows the history of the festival, and how plugging in the electric guitar changed music, similar to the way plugging in an electric vehicle changes the way we think about transportation. The video is focuses entirely on music, but at the end, we get the (ahem) plug from Audi: "Audi A3 Sportback e-tron — Plugging In Across America." Watch it above. The first image from Tesla's Firmware 7.0 update has made its way online. The photo shows what appears to be Tesla's new Autopilot feature. The view of the display also suggests that beta testing is happening on main roads between San Francisco and Tesla's home in the tech hub of Silicon Valley. See the photo and read more at Teslarati. The IRS has published a notice regarding its tax code overseeing the treatment of biodiesel credits. It says that, among other things, claimants must reduce their income tax deduction by the amount of the credits given for alternative fuel used or sold during a given quarter in 2014. Biodiesel producers and blenders were eligible for a tax credit of $1.00 per gallon. Read the notice from the IRS, or learn more from Biofuels Digest. Rumors suggest that Citroen will unveil a concept EV based on the C4 Cactus and classic Mehari at the Frankfurt Motor Show. L'Automobile Magazine is reporting that the French automaker has registered the name "e-Mehari," leading to speculation — and even a goofy rendering — from L'Automobile. There has been no official acknowledgement of the e-Mehari from Citroen, so let's not get too excited yet (especially you, Mr. Ewing). Read more from Technologic Vehicles, or in the (Google-translated) post from L'Automobile Magazine. Related Gallery 2015 Citroen C4 Cactus View 32 Photos News Source: YouTube: Newport Folk Festival, Teslarati, Biofuels Digest, IRS, Technologic Vehicles, L'Automobile Magazine Government/Legal Green Marketing/Advertising Rumormill Audi Tesla Citroen Alternative Fuels Biodiesel Concept Cars Electric Videos recharge wrapup