Audi launches serial production of E-Tron motors at Hungarian plant

Audi has launched serial production of electric engines at its Hungarian plant, the luxury carmaker said in a statement on Tuesday.

Audi's Hungarian unit said the engines will be made for its all-electric E-Tron models. Initial daily capacity will be about 400 electric motors at the Hungarian plant, which can be increased gradually, it said.

Audi, which also makes cars in Hungary, manufactured a total of more than 1.965 million various engines at its Hungarian plant in the city of Gyor last year, and is one of Hungary's most important exporters.

The E-Tron crossover will be revealed Aug. 30 in Brussels and will have a range of about 240 miles. Audi CEO Rupert Stadler quoted the price in Germany as 80,000 euros (about $95,000) — that's compared to 77,850 euros for the entry-model Jaguar I-Pace S AWD and 92,230 euros for the entry-level Tesla Model X 75D.

It's the first of a salvo of EVs from Audi. The company plans to sell 800,000 EVs and hybrids per year by 2025.