International Finance

Porshe and Audi to jointly manufacture electric cars

Both the car manufacturers are of the opinion that this will help to reduce costs

Porsche and Audi – the luxury car divisions of Volkswagen, will together manufacture its electric cars.

The plan has been undertaken in the attempt to have reduced costs on a significant scale, possibly by 30 percent.

Porsche CEO Oliver Blume said: “If both would act on their own, costs would be 30 percent higher.”

He also added that Audi was hiring 550 developers for the electric cars project and Porsche 300.

Blume said that Leipzig has ‘good chances’ for Porshe and there the company could assemble its first model on the basis of the joint planning. There the company is already assembling its Macan sport-utility model.

Rupert Stadler, the CEO at Audi told German newspapers Stuttgarter Zeitung and Stuttgarter Nachrichten: “By 2025, we’re facing a low single-digit billion euro sum to develop the architecture.”

Going forward, both the luxury car manufacturers have made plans to design products that will be manufactured on a joint platform from 2021.

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