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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:

Bentley planning new Le Mans prototype for LMP2 class

Word has it that Bentley is planning a new Le Mans prototype racer. Speaking with Bentley chief Wolfgang Durheimer, Autocar reports that a new LMP2 project is underway at Crewe. The program would be run in-house instead of outsourced to a partner racing team. But while the prototype would likely use the company's 4.0-liter twin-turbo V8, the chassis by necessity would have to be outsourced: the three major sanctioning bodies recently got together to approve Dallara, Oreca, Riley-Multimatic, and Onroak exclusively to supply LMP2 chassis, so Bentley would have to base its design around one of theirs. The British automaker might have a number of reasons for restricting itself to the LMP2 class. Chief among them is likely the presence of both Porsche and Audi in the top-tier LMP1 category, and parent company Volkswagen's likely reluctance to send another one of its brands into the same fight. Another is budget: developing and fielding a competitive LMP1 program can be as costly as running an F1 team, whereas the prospect of sourcing and adapting an LMP2 chassis from an approved supplier would cost Bentley far less. But another factor not to be discounted is that Bentley may be choosing its battles carefully. Where the LMP1 prototypes are constricted largely to Le Mans and the FIA World Endurance Championship of which it is part, there are several series that top out at LMP2 – most notable the IMSA SportsCar Championship where Bentley is tipped to focus first, but also in the European Le Mans Series and Asian Le Mans Series. In fact [SPOILER ALERT] an LMP2 entry just won the 24 Hours of Daytona for the first time, beating out the Daytona Prototypes against which they compete. Those are bragging rights that Bentley could be keen to capture, and if it plays its cards right, it could sit out the LMP2 class at Le Mans and in the WEC altogether, rather than compete for second-tier victory behind its big brothers in LMP1. That would make this program radically different from the last time Bentley built a Le Mans prototype. In the early 2000s, Bentley fielded successive versions of the Speed 8 (pictured above) with a little help from Audi, winning the 24 Hours of Le Mans outright in 2003. The company then shut down the program, only to return to racing with the Continental GT3, developed with longtime Ford rally partner M-Sport and offered to privateer teams.

Bentley lays out EV and PHEV plans through 2030

Bentley has been steadily dripping details on its electrification plans through the rest of the decade. It's going fully electric and carbon neutral by 2030, and its first all-electric car is coming in 2025. Today, the company provided a few more details on its electric product rollout and how it will start phasing out internal combustion cars. That first electric car is coming toward the end of 2025, so it's probably a 2026 model year vehicle, and it's reportedly going to be an SUV. It's also just the start of a big electric push. The next five years after that car's introduction will bring another new fully electric model each year. Those electric models will probably include new generations of existing nameplates such as the Continental GT and Bentayga, but at least one, possibly the first one, will be an as-yet-unnamed machine. Furthermore, Bentley will continue building these cars at the Crewe, England, facility where it's investing 2.5 billion pounds, or nearly $3.4 billion. Until the first EV arrives, Bentley will be expanding its hybrid offerings, with a few new hybrid variants of existing models coming this year. By 2024, all Bentley models and variants will be available with a plug-in hybrid option. By 2026, all of Bentley's cars with internal combustion engines will be plug-in hybrids.