--Audi's electric-car business will take longer than expected to reach profit margins on par with its conventional, gas-burning car business, German newspaper Handelsblatt reports, citing an interview with Chief Executive Officer Gernot Doellner.

--The Volkswagen subsidiary wanted to reach margin parity by the end of the decade, but Doellner now says it will likely take longer, Handelsblatt reports.

--Audi is facing strong competition in China and wants to strengthen its North American presence, according to the newspaper.

--Audi didn't immediately respond to a request for comment by Dow Jones Newswires.

Full story (in German): https://shorturl.at/aekBI

Write to Nina Kienle at nina.kienle@wsj.com

(END) Dow Jones Newswires

December 14, 2023 10:34 ET (15:34 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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