Audi is joining the likes of Tesla as it launches a new business unit under the name of Artemis, all in the name of bringing electric vehicles (EVs) with highly automated technology into the market more quickly.
The German automaker is aiming to become more competitive and agile.
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The automotive industry has been trying to more rapidly bring new technology to the market for years. It usually takes between five to seven years from an idea for a car to its conceptualization, by when consumers' desires and demands may have changed.
Audi's Artemis project will first "develop a pioneering model for Audi quickly and unbureaucratically," as per Audi AG CEO Markus Duesmann said in a statement on Friday.
The plan is to develop and create a "highly efficient electric car" by 2024.
As of June 1, the man in charge of the project is Alex Hitzinger, former Porsche and Formula One engineer, and who was in charge of Audi's Autonomous Intelligent Driving (AID), which was launched in 2017. Artemis will be based out of Audi's tech hub, InCampus in Ingolstadt, Germany.
The Artemis Project will be flown beneath Audi's banner, however, it will benefit the brands under its parent company VW Group. As such, Hitzinger and his team will have the resources from the entire Volkswagen Group at hand.
All in all the VW Group plans on producing and launching 75 EVs across its brands by 2029, which includes VW cars and Audis. For Audi in specific, the plan under Artemis is to produce 20 new all-electric vehicles and 10 new plug-in hybrids by 2025.
"The obvious question was how we could implement additional high-tech benchmarks without jeopardizing the manageability of existing projects, and at the same time utilize new opportunities in the markets," Duesmann said.