• 6 minutes Will the trade war hurt US project builds? Not if the US does it right.
  • 12 minutes OIl Targets from Experts to $300, vs. imho $52
  • 19 minutes Venezuela, the largest oil reserve in the world, faces deep shortages of motor oil
  • 7 hours Does S Arabia Have 2 Mln Barrels in Spare Capacity?
  • 2 days Apple's $300 fund in China
  • 6 mins Trade War of 1930s, Extended the Great Depression
  • 2 days Ireland Exits Fossil Fuels
  • 6 hours Oil prices going down
  • 21 hours Britain should bet more on renewables and less on nuclear
  • 3 days Top Adviser to Khamenei: Iran Will Leave Syria, Iraq Only if Baghdad, Damascus Want It
  • 3 days Michiganders, Rejoice: Musk Will Fix Flint
  • 2 days Russia & China bypassing Oil Sanctions to North Korea, U.S. Peeved
  • 11 hours Tesla Shareholders Finally Fed Up? Could it be true?
  • 3 days Trump Threatens Sanctions against Shell, Uniper
  • 3 days Consumer prices on rise
  • 2 days What can bring oil prices down?
Downside Risk Remains In Oil Markets

Downside Risk Remains In Oil Markets

Oil market sentiment is as…

Technical Analysis: Was This Just A Correction?

Technical Analysis: Was This Just A Correction?

This week’s plunge in oil…

Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for the U.S.-based Divergente LLC consulting firm with over a decade of experience writing for news outlets such as iNVEZZ and…

More Info

Audi Cancels Europe Launch Of Tesla Rival

Audi Etron

Germany’s Audi has canceled a scheduled event in Brussels in August to launch its all-electric SUV, the e-tron, and will instead hold the event in the United States at a later date at a yet to be specified location.

The event, Audi Summit, was scheduled to be held on August 30 in Brussels, where the electric SUV will be built.

The change of plans comes a week after Audi’s chief executive Rupert Stadler was arrested by German authorities as part of the investigation into the diesel emissions scandal at Audi’s owner Volkswagen, which has cost the German group around US$30 billion in damages.

On Monday, Audi canceled the Brussels event, citing “organizational reasons”, Automotive News Europe reports. The deferred e-tron unveiling would likely mean that Mercedes-Benz will be the first German carmaker to unveil its Tesla competitor, EQC, set for a world premiere in early September in Stockholm, according to Automotive News Europe.

Despite the canceling of the Audi Summit, the start of e-tron sales, set for the end of this year, still stands, regardless of when the car will be unveiled.

“The e-tron will have its market launch at the end of the year. Nothing has changed,” a spokeswoman for Audi told Automotive News Europe.

Related: Oil Prices Spike Despite Saudi Plan For Unprecedented Oil Export Surge

Audi is already taking orders for the e-tron in some western European markets, and said in May that it had received around 5,500 advance orders from customers in Norway and the Netherlands. The price of the e-tron starts at US$93,400 (80,000 euro) in Germany.

Just weeks prior to his arrest, Audi’s now ex CEO Stadler told the Financial Times in an interview: “Believe me, it’s not just an electric car.”

“It’s a starting point for the next quantum leap.”

Last month and before Stadler’s arrest, Audi said that it targets to sell 800,000 battery-electric and hybrid cars in 2025, as it aims to catch up with Tesla and turn the page after the diesel emissions scandal.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:

Join the discussion | Back to homepage

Leave a comment
  • jayc on June 27 2018 said:
    There are some suggestions indicating Audi cancelled only because they have still not achieved the claimed figures. Those figures were well behind Tesla anyway but what is the point if even that is also not possible.

    Audi should go back to their dirtly clean diesels and farting RSs.
  • Markp1950 on June 27 2018 said:
    Deposits and a delayed product launch..... What a fraud.... LOL!

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News