Audi shares closed lower Monday, as the German carmaker showcased its first all-electric SUV, the e-tron. The German carmaker said its new electric car would be available to US customers in 2019.
The manufacturer also shared news of a deal with Amazon to help charge the e-tron and other electric vehicles it will launch in the next seven years.
Audi shares ended the Monday European session 0.82% higher at €736.00. The stock has been moving mainly higher in recent weeks.
Audi’s e-tron launch
Audi Monday announced its electric car strategy and unveiled the e-tron SUV, the first of its 12 electric vehicles it is designing and will become available for purchase on the retail market by the end of 2025.
The e-tron and e-tron Sportback models will be all-electric, all-wheel drive vehicles, with fast charging capabilities.
“The Audi e-tron is definitely a highlight in the history of our company and the starting signal for our electrification strategy,” said Audi’s Peter Mertens, a member of the board for technical development.
Audi added that the e-tron models will be the first in the new family of electric vehicles, with driving ranges suitable for short and long distances. The German carmaker said that the vehicle is a premium example of EVs and will display all the hallmarks associated with other Audi vehicles.
While Audi has partnered with Porsche in the concept and design of the e-tron, another partnership is also crucial to the success of the e-tron. The German carmaker has an agreement with Amazon, where the tech giant will sell and install the electric charging systems in the homes of e-tron owners.
This is a first for both Audi and Amazon.
“We see charging installation as a very important business,” Pat Bigatel, director of Amazon Home Services, told Reuter reporters at the Audi’s launch event in San Francisco.