Audi Unveils Long-Delayed Q6 E-Tron Just as Electric-Vehicle Growth Cools

Monica Raymunt, Bloomberg News

The Audi Q6 e-tron prototype during the media day for the Munich Motor Show in Munich, Germany. Photographer: Krisztian Bocsi/Bloomberg , Bloomberg

(Bloomberg) -- Audi has unveiled its delayed Q6 e-tron, seeking to restore momentum to the struggling brand with a luxury mid-size SUV as sales of electric vehicles are cooling.

The €74,700 ($81,315) vehicle, built on the same underpinnings as Porsche AG’s electric Macan, features fast-charging technology that returns the battery to 80% full in just over 20 minutes. The car will be the first fully electric model made at Audi’s headquarters in Ingolstadt, Germany, after software setbacks delayed its rollout by about two years.

“It’s a huge responsibility for us to have the ramp up and production of this car,” factory head Siegried Schmidtner told reporters Monday. The plant also has its own battery assembly.

Parent Volkswagen AG’s cash cow is preparing to rejuvenate its offering with a record lineup of new models after the brand started to trail rivals and fall behind in China, its biggest market. Audi last year replaced its chief executive officer and sought deeper ties with Chinese partner SAIC Motor Corp Ltd. on EV projects to help its turnaround.

With deliveries starting during the third quarter, the Q6 e-tron faces a broad bench of competitors, including Mercedes-Benz’s EQE, BMW’s iX and Tesla’s Model Y.

Read More: New Audi CEO’s Big Task Is Cleaning Up Years of Mistakes

EV growth is slowing in several key European markets, where buying incentives have run out. Audi’s new CEO Gernot Döllner in December flagged the manufacturer is paring back its ambitious new model plans because of the slowdown.

The Q6 e-tron will play a key roll in helping Audi meet the EU’s more stringent fleet emissions targets in 2025, Döllner said. But with flagging consumer interest in EVs, the Audi CEO said he welcomed the auto industry’s ability to reevaluate its electrification strategy with Brussels in 2026.

“We are adamant about sticking to our electrification strategy, but let’s wait and see,” Döllner told Bloomberg on the sidelines of Monday’s event inside the Ingolstadt factory.

Like its sister brand Volkswagen, Audi is chasing efficiency measures to bolster its profits and margins. Production and logistics chief Gerd Walker said the brand aims to reduce factory costs by 50% compared to pre-pandemic levels by 2033, with early retirement offers helping to trim labor costs and synergies between other Volkswagen AG brands playing a key role.

Audi is planning to introduce 20 models by 2026, half of them fully electric.

Read More: Audi CEO Nudges Back EV Model Rollout Amid Market Wobbles

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