VW’s Delays Lead to Audi Cost Cuts

Volkswagen Group still doesn’t have an approved fix from the EPA and the company just agreed to send $175 million to lawyers representing diesel owners in the US. In other words, the company is in financial trouble and that means some belt tightening needs to happen.

From Reuters:

“Audi will delay technology projects at its German base to cut costs, sources at the company said on Monday, as it grapples with the Volkswagen group’s emissions scandal and multi-million-euro investments in electric cars and autonomous driving.”

The cutbacks are going to hurt projects that were intended to clean up VW and Audi’ brand image — namely self-driving technology and electric vehicles.