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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 A8 sort-of debuts at 'Spider-Man: Homecoming' premiere

Audi's A8 strip-tease continues its glacial pace with the appearance of a camouflaged example at the Spider-Man: Homecoming premiere in Hollywood, ahead of the car's official debut on July 11. For those of you wondering what Audi has to do with anything Spider-Man, it's because Audi has significant product placement in the film, and the A8 has a cameo role. And if you were wondering why Audi is putting all of this effort into getting its cars in the film, just check out box-office numbers for almost any movie from Disney's Marvel Cinematic Universe. You would be crazy if you didn't want your cars to be seen by that many eyeballs. Anyway, back to the car at hand. Since the car won't officially, completely be revealed for another couple of weeks, it is still disguised, this time with some custom camouflage. Rather than thick covers and typical swirly vinyl, this car has a wrap that looks like a bunch of spider webs. There are some Spider-Man logos scattered about, too, along with a big black spider on the hood. Still, we get a pretty good look at the car ahead of time. It has a nose that is clearly based on Audi's Prologue and Prologue Avant concepts. However, the A8's fenders are much less muscular and pumped up. The lower grille is also quite restrained. According to Audi, there will be a couple of moments in which you'll be able to spot an undisguised A8 in Spider-Man: Homecoming. You'll, of course, also see a mix of other Audi products. The full reveal of the flagship sedan happens in Spain on July 11, and we expect to get full details on its specifications. We may also learn about some additional fancy technology beyond the already announced high-tech start and stop system and active suspension. Related Video:

Watch the Chevy Corvette dismiss its Euro rivals at the hands of a Brit magazine

European auto writers, especially the British, have a bit of a reputation for favoring their own domestic cars over foreign rivals in comparison tests. Just think about how many times you've heard Jeremy Clarkson deify the latest product of UK loins while denigrating an American rival as a hopeless "Yank Tank." However, we have to tip our hats to the folks at Autocar because in its latest video comparing the 2014 Corvette Stingray to the Porsche 911, Jaguar F-Type V8 S and Audi R8, it's actually given the Vette a fair shake.
Autocar has put the Stingray through a battery of tests against what it considers to be the three best sports cars on sale in Europe today. And while the tests that it has chosen are somewhat random and subjective, it has concluded that the C7 can stand up against its rivals, even irrespective of its price. It's one thing to hear about how great the Stingray is from American writers, but it's great to know that not all Brits think we've gone crazy for calling the new Chevrolet "exquisite."
Scroll down to see how it all plays out on video.