Audi CEO Announces Delaying EV Launches Amid Slow Growth In Sales

The CEO of Audi AG (OTC:AUDVF), Gernot Döllner, has announced a recalibration of the company’s electric vehicle (EV) launch strategy, citing a desire to avoid overburdening production facilities and dealerships.

Bloomberg reported on Monday that the strategic change was confirmed by Döllner during an interview at the Audi headquarters in Ingolstadt, Germany. He clarified that the decision was necessary to prevent potential bottlenecks in production and sales.

Audi, a key player within the Volkswagen AG (OTC:VWAGY) portfolio, is facing pressure to rejuvenate its product lineup, especially with rivals Mercedes-Benz Group AG (OTC:DDAIF) and BMW AG (OTC:BMWYY) gearing up to introduce their new EV models.

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The slowdown has been exacerbated by recurring issues with Audi’s Q6 e-tron model, arising from complications at Volkswagen’s software unit, Cariad.

Nevertheless, Audi retains its goal to introduce 20 new models by 2026, half of which will be fully electric. The Q6 e-tron launch is slated for the second quarter, with additional models, including another EV and a couple of combustion engine cars, lined up for the following year.

The automobile company’s challenges are part of a larger industry-wide problem in marketing EVs, due to high costs, inconsistent infrastructure, regulatory changes, and the surge of Chinese EVs in the market.

Döllner remains confident about Audi’s future, expressing faith in the company’s trifecta of EVs, plug-in hybrids, and internal combustion engines. He believes this diversified approach will ensure Audi’s strong standing during the impending industry transition.

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