German car manufacturers Audi and Porsche are pooling their resources to develop a new electric vehicle platform for use in the next decade.
They are both committed to the development of electric cars but, in a cost saving exercise, will pay for it jointly.
This, they claim, will cost them significantly less than if going it alone. Almost a third less.
"By 2025, we’re facing a low single-digit billion euro sum to develop the architecture," said Audi CEO Rupert Stadler.
His counterpart at Porsche, Oliver Blume, added: "If both would act on their own, costs would be 30 per cent higher."
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Porsche is planning an all electric sports car, it is reported. While Audi will develop several models based on the new EV platform. It is said to be working on two sedan cars and a pair of electric sports utility models.
These cars are expected to be built from 2021 and on, although it might be a few years further down the line before you see them hit the streets.
Although both brands are owned by Volkswagen, it is not thought that they will adopt their parent company's existing electric vehicle platform.