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Volkswagen-owned <VOWG_p.DE> Audi, grappling with costs of
its emissions scandal, is cutting spending to fund a strategic
shift to electric cars and autonomous driving, mirroring plans
by parent VW.
"We will conduct the race for the future electronically," Chief
Executive Rupert Stadler told workers on Wednesday at Audi's
sports-car division, according to a statement from Audi citing
the biggest transformation in the brand's history.
Audi denied a report by Handelsblatt saying savings from pulling
out of Le Mans and the World Endurance Championship would amount
to an annual 300 million euros ($328 million). A source at Audi
said the move would save Audi nearly 100 million euros per year.
Audi has won the 24-hour Le Mans race, one of the greatest tests
of endurance for cars and drivers, 13 times in 18 years, a
spokesman said.
Seeking to boost the share of zero-emission vehicles to at least
a quarter of its global sales by 2025, Audi said it will next
year start competing in the Formula E electric-car racing
championship.
The Ingolstadt-based manufacturer said its cars would stay in
Germany's DTM competition and it was looking at the possibility
of expanding its engagement in the so-called RX World Rallycross
championship where electrification will also play a role.
(Reporting by Andreas Cremer; Editing by Maria Sheahan)
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