logo
Audi Isn't Abandoning Gas Engines for EVs by 2033 Like It Planned

Audi Isn't Abandoning Gas Engines for EVs by 2033 Like It Planned

Car and Driver6 hours ago

Audi is removing its planned 2033 all-EV deadline, according to a report by Autocar.
Last year, the company decided to put more funding into developing hybrid technology.
Sure to please Audi performance fans, there's the potential for future gas-powered RS models.
Last year, Audi softened its plans to wind down a transition to an entirely electrified lineup, suggesting that plug-in hybrid technology was worth developing as a bridge to EVs. Still, the company's official stated plan was a full EV range by 2033, so no more internal-combustion-powered Audis. Now, as reported by Autocar, that deadline is off the table.
The EV Deadline Is Dead
Citing an interview with Audi CEO Gernot Döllner, Autocar notes that the decision to continue developing combustion engines is part of keeping the company's lineup "flexible." The new short-term plans include a new lineup of gas-powered vehicles, hybridized or not, to be rolled out by next year. There's no new deadline for full electrification, but Döllner said he expects Audi to still be producing gas-powered cars past 2033.
View Photos
Michael Simari
|
Car and Driver
These plans are likely dependent on the market, as EU laws have a set target date of full electrification by 2035. On this side of the Atlantic, about 12 percent of Audis sold in the United States were EVs. Globally, that percentage rises to 30 percent, with total figures slightly ahead of Mercedes but lagging BMW.
Audi will still be putting R&D money towards its all-electric vehicles and no doubt benefiting from the Volkswagen Group's broader strategy. However, there's perhaps a little hope here for those who weren't quite ready to throw in the towel on gas-powered performance Audis.
View Photos
audi
New Gas-Fed RS Models?
Indications are that RS versions of gas-powered Audis will still be on the table. Audi's performance division has delivered some hugely characterful motors over the years, from the RS6's twin-turbo V-10 to the TT RS's snorty turbocharged inline-five.
Speaking of the Audi TT, Döllner didn't entirely close the door on speculation that it might return, perhaps accompanied by its big brother, the R8. He said it was too early to talk about such things, but that there might be a chance to be surprised in the future. Don't hold your breath, but the gas-powered four-ring circus hasn't left town yet.
Brendan McAleer
Contributing Editor
Brendan McAleer is a freelance writer and photographer based in North Vancouver, B.C., Canada. He grew up splitting his knuckles on British automobiles, came of age in the golden era of Japanese sport-compact performance, and began writing about cars and people in 2008. His particular interest is the intersection between humanity and machinery, whether it is the racing career of Walter Cronkite or Japanese animator Hayao Miyazaki's half-century obsession with the Citroën 2CV. He has taught both of his young daughters how to shift a manual transmission and is grateful for the excuse they provide to be perpetually buying Hot Wheels. Read full bio

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Can Philip Morris Rely on Pricing to Drive 2025 EPS Growth?
Can Philip Morris Rely on Pricing to Drive 2025 EPS Growth?

Yahoo

time22 minutes ago

  • Yahoo

Can Philip Morris Rely on Pricing to Drive 2025 EPS Growth?

Philip Morris International PM continues to lean on pricing as a key earnings driver. The company delivered a strong first quarter of 2025, with adjusted earnings per share (EPS) rising 12.7% year over year to $1.69. Pricing contributed 6 percentage points to organic revenue growth of 10.2%, supported by an 8.3% increase in combustible pricing and around 3% in smoke-free products, excluding devices. The company has raised its full-year EPS forecast to $7.36-$7.49. The question is whether pricing alone can sustain that pointed to continued pricing strength in markets like Turkey, Poland and Germany. However, it also noted that gross pricing and negative geographic mix are expected to moderate over the remainder of the year. In the smoke-free category, gross margins expanded 670 basis points to surpass 70%, now standing more than five points above combustibles at the current product and geographic mix. ZYN, a key contributor to smoke-free profit growth, saw shipment volumes rise 63% in the quarter, reinforcing the segment's scale and strategic so, Philip Morris delivered a 180-basis-point gross margin boost from pricing alone, reflecting the effectiveness of its pricing strategy. While pricing gains may be less pronounced in the second half, Philip Morris emphasized continued investments behind its smoke-free growth. With volume and mix improvements already visible in the first quarter, the company appears positioned to support earnings growth through a combination of pricing and product performance. Altria Group MO reported a 10.8% rise in net price realization for combustibles, which supported operating income growth despite steep volume declines. Yet, MO is facing consumer pressure, with many smokers trading down to discount brands, limiting pricing flexibility. In oral nicotine, Altria Group's on! posted 18% shipment growth alongside higher retail prices, but category competition and cost-conscious behavior remain visible Point Brands TPB saw explosive growth in its modern oral segment, with pouch sales increasing nearly tenfold year over year. However, this growth came with mix-driven margin pressure. Turning Point Brands' gross margin declined 220 basis points and it acknowledged the need for further investment to scale brands and improve profitability. With rising freight and tariff costs also in play, Turning Point Brands' pricing power remains limited without additional volume leverage. Shares of Philip Morris have gained 4.9% in the past month compared with the industry's growth of 5.1%. Image Source: Zacks Investment Research From a valuation standpoint, PM trades at a forward price-to-earnings ratio of 23.19X, up from the industry's average of 15.64X. Image Source: Zacks Investment Research The Zacks Consensus Estimate for PM's 2025 earnings implies year-over-year growth of 13.7%, whereas its 2026 earnings estimate indicates a year-over-year uptick of 11.7%. Image Source: Zacks Investment Research PM stock currently holds a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Altria Group, Inc. (MO) : Free Stock Analysis Report Philip Morris International Inc. (PM) : Free Stock Analysis Report Turning Point Brands, Inc. (TPB) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Interview: James Neville CEO of Yaspa
Interview: James Neville CEO of Yaspa

Yahoo

time39 minutes ago

  • Yahoo

Interview: James Neville CEO of Yaspa

With over 10 years of experience as a founder, as well as holding previous roles as CTO at Worldpay and Just Eat, James Neville, CEO of Yaspa, is perfectly qualified to discuss all things related to open banking and payments. He is also one of the payments sector's leading experts in identity verification. It is rather stating the obvious to note that open banking has the potential to revolutionise payments. It offers faster, more secure, and cost-effective transactions. But Yaspa's research highlights a key challenge: naming conventions matter. Pay-by-Bank, Pay by bank account, Account-to-account payments, A2A, Open banking. Instant payments are all terms used to refer to the same, simple method of a payment made from one bank account to another. That is a payment initiated through open banking providers, meaning consumers avoid the chore of typing in, checking and verifying the transfer details. 'Pay by Bank' is gaining traction, but its meaning remains ambiguous to many consumers. This is one key takeaway from the Yaspa Index 2025, launched to act as a benchmark for industry awareness and to provide valuable insights for businesses looking to optimise their payment offerings. 55% of UK adults report familiarity with the term 'Pay by Bank', but 45% remain unaware of the phrase despite its growing presence in online checkouts; Security (72%) and ease of use (66%) are the top priorities for consumers choosing a payment method; QR code payments are on the rise, yet only 27% of respondents used them for transactions in the past year, and Consumer education remains critical to driving open banking adoption, particularly in high-growth sectors such as gaming and retail. Neville tells EPI that there is still an element of consumer education that needs to happen and that it is very demographic dependent. That is a polite way of saying that towards the older range of the demographic spectrum that there is work to do, 'A lot of people are using the new tools without knowing the actual banking terms for the tools they're using. We don't expect consumers to really understand the mechanics of it. Pay by bank, knowing that you're using your banking app or the bank services to make a payment and the need to differentiate from cards - that is important.' If open banking is ever to realise its full potential, issues such as data transparency, improvements in payment execution and enhanced fraud prevention are essential. Yaspa is committed to driving these changes, working with industry partners to help shape a more seamless and secure future for open banking payments. Neville is also championing the standardisation of language related to open banking across the industry to help boost consumer understanding and adoption. The challenge then is to ensure that consumers understand the benefits to them of using instant bank payments. For example, speed, security, control and fewer input errors. And then, once consumers have used it in one place, recognising it's available as an option in another place, even if it's from a different provider. Looking ahead, Neville is optimistic that open banking can deliver a frictionless experience for businesses and consumers alike. With the right enhancements, it could soon rival - and even surpass - traditional card payments in convenience, security, and efficiency. 'We're pretty unique in the space in that we connect identity and money. So we do lots of clever things, like providing bank identity on the transaction itself, and we provide financial health of that individual at the point of payment.' Yaspa already operates across 19 European markets and is now plotting expansion in the Americas. Neville has good reason to look ahead with optimism. "Interview: James Neville CEO of Yaspa" was originally created and published by Retail Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Fiat 500e EV Could Get a New Battery as Quickly as a Gas Fill-Up
Fiat 500e EV Could Get a New Battery as Quickly as a Gas Fill-Up

Miami Herald

time44 minutes ago

  • Miami Herald

Fiat 500e EV Could Get a New Battery as Quickly as a Gas Fill-Up

Spain's car-sharing scene is about to get a jolt. Stellantis, the global automaker behind brands like Jeep, Dodge, and Fiat, has teamed up with San Francisco startup Ample to deploy 100 Fiat 500e EVs equipped with swappable batteries. The cars will be part of Free2move, Stellantis' car-sharing and mobility service in Madrid. Instead of plugging in and waiting around to recharge, these Fiats can drive into a station and receive a freshly charged battery in just five minutes - about the same time it takes to fill up a gas tank. It's a modern take on a concept that's been attempted before, with one major twist: Ample's system uses modular battery packs rather than one-size-fits-all units. What sets Ample apart is the flexibility of its battery system. Each swappable module is roughly the size of a carry-on suitcase, and multiple modules can be combined to suit different needs. That means a Fiat 500e doesn't have to carry more battery than necessary - just one module for quick trips, or a full set of four for longer drives. Unlike systems that require bespoke vehicle designs or bulky underbody access points, Ample's batteries are designed to slot into existing EV platforms. This approach makes it easier to retrofit a wide variety of electric vehicles with the swappable tech. It also helps future-proof the system, meaning that as EV technology evolves, Ample can upgrade the modules themselves, not the cars. Battery swapping might not make sense for individual EV owners who charge overnight at home. But in the world of car-sharing and ride-hailing, downtime is the enemy. "For car-sharing fleets, every minute spent off the road is lost revenue," said Khaled Hassounah, CEO of Ample. "We're deeply committed to making Free2move's transition to electric seamless - not just in theory, but in daily operations. Our five-minute battery swaps eliminate charging downtime entirely, helping Free2move keep vehicles available, customers moving, and operations running at full speed." That kind of efficiency is critical for Free2move, which began testing 40 Ample-equipped 500e models in Madrid last year. With the fleet performing well and earning full regulatory approval, Stellantis plans to grow it to 100 vehicles by mid-2025. Ample's first battery swap stations appeared in California in 2021 and could complete a full changeover in about 10 minutes. However, the company has already rolled out a second-generation station that cuts that time in half and enhances the user experience. Now, drivers can remain inside the vehicle during the swap - a small but meaningful upgrade for comfort and convenience, especially in colder or hotter climates. The stations themselves are designed to be modular and quickly deployable, meaning they can be installed in urban environments without massive infrastructure changes. That's a major advantage for cities with limited space or power grid constraints. Battery swapping isn't likely to replace fast charging across the board. Most private EV owners won't need it, and the cost of deploying swap stations at scale is still high. But in dense cities, where fleets need to keep moving and space is at a premium, modular swap stations could fill an important niche. If the Madrid program proves successful, it could serve as a model for other cities and automakers looking to make electric fleets faster, more reliable, and more flexible. For now, it's an ambitious experiment, but if it works, five-minute EV "refueling" could become a lot more common. Copyright 2025 The Arena Group, Inc. All Rights Reserved.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store