Audi to swap out TT for all-electric model

Audi's CFO has indicated that the company is "shedding old baggage," meaning it will be discontinuing the TT coupe to replace it with a BEV, according to a Bloomberg report.

As reported by Bloomberg Thursday, Audi will be discontinuing the TT coupe and possibly the R8 as well in order to make space in the portfolio for new fully-electric models. The battery powertrain push comes as a result of the company's initiative to launch 20 fully-electric vehicles by 2025, a point when sales of electric cars both hybrid and 100% electric are expected to make up to 40% of automobile deliveries. According to Audi CFO Alexander Seitz, "Because of tighter emissions regulations, combustion cars are getting more expensive in the medium-term, and electric cars are getting cheaper."

The TT coupe goes back to 1998 when it gave the company its characteristic sporty aesthetic. As of late, sales not only of the TT but also of the entire brand have been sloping like the model's iconic roof, but the brand is hoping that they take a turn upwards thanks to the introduction of five hybrid models over the next two years.

Also as part of the company's transition toward electrification, Bloomberg states that the next version of the A8 sedan is likely to go fully-electric. The next-gen model is expected to debut in 2025.

Audi stated that the TT will be replaced with an upcoming EV "in a few years."