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Audi Slashing $12b in Costs to Cover Electrification Goal

Luxury marque needs to offset cost of diesel emissions scandal.

by on Jul.31, 2017

Audi showed off its e-Tron Sportback Concept at this year's Shanghai Motor Show.

As it shifts away from its long dependence on diesel powertrains, Audi is looking to rapidly ramp up its electrification program, but the luxury arm of Volkswagen Group will have to slash spending to cover the costs of its new technology.

Audi intends to cut costs by 10 billion euros, or $12 billion, by 2022 to support its aggressive shift to electrification, according to a report by Germany’s Handelsblatt business publication.

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That money will help it bring to market five all-new battery-electric vehicles, or BEVs, as well as a range of plug-in hybrids and conventional hybrids, according to the report.

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