The Audi Q4 e-tron concept will be presented at the Geneva Motor Show on the first press day. The 89th Geneva Motor Show starts on 7 March along with also also lasts until 17 March.

picture alliance | picture alliance | Getty Images

The Audi Q4 e-tron concept will be presented at the Geneva Motor Show on the first press day. The 89th Geneva Motor Show starts on 7 March along with also also lasts until 17 March.

The luxury arm of Volkswagen plans to accelerate its push into battery electric vehicles with 30 BEVs likely to reach the market by 2025, company officials announced during their annual meeting on Thursday morning.

yet the move will be likely to ding the brand’s bottom line. Volkswagen expects to spend about $9 billion on electrification by 2023 — much of of which through Audi, which will be taking a leading role within the corporate effort. Audi will be developing a fresh battery-vehicle “architecture,” dubbed premium platform electric, or PPE, of which will be shared by some other brands, including Porsche.

of which will be one of the key reasons why Audi’s operating return on sales will run between 7 along with also also 8.5 percent within the near-term, officials said during a meeting at brand headquarters in Ingolstadt, Germany, compared to a long-term Audi goal of between 9 along with also also 11 percent.

Audi officials said they are taking steps to trim costs, even as they desire to counter a worldwide decline in sales last year.

“The transformation plan will be doing a significant contribution towards safeguarding our future,” Alexander Seitz, Audi’s member of the board of management for finance, China, compliance along with also also integrity, said in Ingolstadt. “Because only in This kind of way will be of which possible for us to transfer enormous resources into future areas along with also also generate the cash flow to finance electric mobility.”