Here's Why Audi May Be Happy With A Bad Sales Year

Audi e-tron GT

The spending on new models will lead to a "challenging" year in 2018 before "sustainable" earnings gains kick in next year, the company said. The brand is targeting a contribution of 1 billion euros from these products to its operating profit by 2025.

The luxury brand cut costs by 1 billion euros previous year as part of a goal to cut spending by 10 billion euros by 2022 to free up funds for its electric-car programme. This has already allowed us to decide four additional new models and derivatives with an unchanged budget.

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The new model will become a flagship for the automaker's Audi Sport brand, CEO Rupert Stadler said at the brand's annual financial results press conference on Thursday. For the electric mobility of tomorrow, the brand is collaborating closely with Porsche and Volkswagen. It will be built in Audi's Boellinger Hoefe site near its Neckarsulm assembly plant in Germany.

Audi has announced it will introduce a full-electric four-door GT model in 2020. Stadler said added that all "core model" series cars would be equipped with mild hybrid technology.

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The German carmaker also repeated that they're going to launch their first-ever battery electric model later this year, which is none other than the e-Tron SUV. This SUV allows fast-charging at up to 150 kW, making it ready for long-distance use again in less than half an hour.

The e-tron GT will be built on VW Group's J1 premium electric vehicle platform shared with Porsche's Mission E sedan, which is expected to launch later this year.

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Called the Audi e-tron Gran Turismo, the all-new EV will join the upcoming e-tron and e-tron Sportback early in the coming decade.

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