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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:

Volkswagen Group names Paefgen head of classics program

You may remember the name Franz-Josef Paefgen. Until recently, the German engineer and executive was head of both Bentley and Bugatti. Before that he was chief executive of Audi, after working for several years at Ford. He technically "retired" earlier this year, but like the cars he helped create, an executive like Paefgen could never really retire. So it should come as little surprise that the Volkswagen Group has named Dr. Paefgen head of its Classic program.
In his new capacity, Paefgen will oversee the historic automobile activities of the entire VW Group, including those of Volkswagen, Seat, Skoda, Audi, Lamborghini, and of course Bentley and Bugatti. It strikes us as a suitable semi-retirement for the man responsible in no small part for the Bugatti Veyron and Bentley Mulsanne, to name just two, and who was decorated in 2006 by the ACO as the "Spirit of Le Mans" for his contribution to endurance racing. Read the official announcement after the break.

Bentley expands hybrid lineup to Bentaya S and Azure models

People often joke that buyers of ultra-luxury vehicles from Rolls-Royce and Bentley don’t care about gas prices, but even if thatÂ’s true, a lot of people still may not want to own the rolling embodiment of earthÂ’s impending doom. Rolls-Royce will go all-electric by 2030, and its British rivals at Bentley are hard at work on the brandÂ’s first EV, expected by 2025. In the meantime, the Brits at Bentley have come up with hybrid powertrains, and the automaker recently announced an expansion of hybrid options for its only SUV, the Bentayga. The automaker says that 100 percent of Bentayga Hybrid owners use their SUVs in full electric mode, with half staying within the vehicleÂ’s electric range. The Bentayga S and Azure are now available with hybrid powertrains, meaning half of BentleyÂ’s lineup is electrified. Rather than focusing solely on improving efficiency, Bentley implemented a plug-in hybrid system that offers up to 27 all-electric miles of range, a 6-percent surge in power, and a 15-percent improvement in torque. The Bentayga S Hybrid, for example, delivers 455 horsepower. All Bentaygas get almost 300 pound-feet of torque just from the electric motor. All Bentayga hybrids come with a 3.0-liter V6, and Bentley says that the S Hybrid can reach 62 mph (100 km/h) from a standstill in 5.3 seconds. The SUV got 15-percent stiffer dampers that shift damping force based on the selected drive mode, and Bentley says a new Hybrid Sports Exhaust “brings a stirring symphony of sound within the cabin.” It sounds a lot like fake engine noises to us, and Bentley notes that the sounds can be adjusted differently for front and rear passengers. The Bentayga Azure Hybrid is a more luxury-focused variant that features intense noise-canceling technologies and unique interior touches to improve comfort and a sense of well-being. The Azure is up to 26-percent quieter than its rivals on the road, and Bentley says it tuned the SUV to deliver 27 percent fewer vibrations. Buyers can choose from 15 different interior materials and color combinations, and 22-inch 10-spoke wheels come standard.