Audi Plans $12 Billion Cost Cutting Exercise to Fund Future Electric Vehicles
According to recent reports from Reuters, Audi: Volkswagen's most profitable brand plans to cut costs up to $12 billion within the next 5 years to fund the company's latest shift to electric vehicles.
The first vehicle on Audi's line up is the E-Tron Quattro Crossover. Audi plans to roll out five new electric vehicles within this time-frame. The reduction in its R&D costs would almost entirely attribute to this massive savings plan.
Audi and VW are not alone in the realm of saving funds and redirecting them to Electronic Vehicles. Volvo and Mercedes-Benz did the same as it announced its new EV brand called the EQ. In July Swedish Automaker: Volvo announced that all its new models would boasts an electric drive train.
Audi's E-Tron is expected to have a range over 310 miles and electric motors that churn upwards of 429 -496 horse power.
The dieselgate scandal still plagues VW today, may have negative effects on German and European car manufacturers that sells cars with diesel engines in the US. Top car manufacturers in Europe such as BWM and Mercedes-Benz may decline its sales of diesel vehicles in the US and opt to refocus efforts almost entirely on Electric Vehicles.
Source: Reuters
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