Audi cut­ting €10b in costs to ‘go elec­tric’

New Straits Times - - Business / World -

Audi aims to cut costs by €10 bil­lion (RM51.36 bil­lion) by 2022 to help fund a shift to elec­tric cars as it seeks to move on af­ter the emis­sions scan­dal. Audi, Volk­swa­gen AG’s main profit driver, plans to bring five new elec­tric mod­els to the mar­ket in the com­ing years. De­spite run-up costs for its elec­tric car pro­gramme, the car­maker wanted to keep its op­er­at­ing profit mar­gin at eight per cent a year at least, said two sources. Its profit mar­gin in the first half of this year was 8.9 per cent.

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