Audi Looks To Save $12 Billion To Fund EV Future

Audi wants to slash its costs by up to 10 billion euros ($12 billion) by 2022 in an effort to fund its fleet of all-electric vehicles.

German newspaper Handelsblatt reports that Audi is working on five all-electric models and will bring the first to the market next year. Taking the shape of the e-Tron SUV, it will signify a new age in the German automaker’s illustrious history but won’t come cheap for the company.

Sources suggest that despite the high costs associated with its EV program, Audi wants to maintain an 8 per cent operating profit a year and intends on saving most of the planned $12 billion by slashing research and development costs, Automotive News reports.

Audi has declined to comment on the report but it is suggested one key avenue of cost saving will come thanks to the brand’s closer involvement with Porsche in co-developing a new flexible architecture.

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