Audi Plans $49 Billion Push in Challenge to Luxury Rivals

Nichole Vega
March 17, 2018

The E-Tron crossover will be launched later this year, presumably as a 2019 model. This is where Audi now produces the R8, although the future of the supercar remains unclear.

Audi has been busy promoting its first proper electric auto - the Audi e-tron quattro SUV - at Geneva this week, doing all it can to throw a bit of shade at the new Jaguar i-Pace.

As part of its aggressive plan to make more electrified cars, Audi will launch a four-door E-Tron Gran Turismo in the next few years.

Audi has previously introduced the e-tron moniker to the Audi R8, in the form of a concept which was intended for production, but ultimately abandoned. A model such as the diesel-electric plug-in Q7 e-tron might have to drop its existing badging in favor of some sort of new model code, but although Glaser admits something has to be done, he didn't make any suggestion as to what that will be.

Audi CEO Rupert Stadler (left) and CFO Alexander Seitz pose next to the Audi Q7 e-tron quatro vehicle before the company's annual news conference in Ingolstadt, Germany March 15, 2018.

Less good news for the Audi R8, however.

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While it might be awhile, as we've heard that Audi Sport was going to be taking a slow approach to electrification, Audi CEO Rupert Stadler feels EVs are necessary for the future of the brand.

That suggests the future Audi e-tron GT may be low in volume but high in performance.

The Audi Group announced that the company has increased its revenue and earnings under hard conditions in 2017 as the revenue surpassed the mark of €60 billion, which is more than double of what they did over the last eight years.

Audi describes the new sports EV as "highly dynamic" and using "purely electric drive". Against this backdrop came the announcement that all core Audi models will soon be offered with "at least mild hybrid" engine options.

For Audi's Action and Transformation Plan, the German car-makers will invest close to €10 billion by 2022 to accelerate future models.

Other reports by AllAboutTopnews

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