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Preheat oven to 350 degrees F.
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Apply butter on two 9 inch cake pans and set aside.
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In a small bowl, sift and mix dry ingredients; flour, baking soda, cocoa powder and salt. Set aside.
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In a large bowl, using a hand mixer or a stand mixer, beat butter on high speed until smooth and creamy (1 min).
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Add granulated sugar, beat for another 2 mins to mix.
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Add oil and beat on high for 2 mins. Scrape down the sides of the bowl if necessary.
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While beating on high speed, add the vanilla extract and egg yolks. Beat well to mix properly.
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Add the red food color slowly along with vinegar, beat well to mix and give the batter a proper red color.
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Add the dry ingredient mix at this stage, slowly alternating with buttermilk and flour on a low speed. Do not over mix the batter.
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In the meantime, beat the egg whites in another bowl vigorously until soft peaks form (3 mins). The peaks should hold their shape when beaters are lifted.
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Fold in the cake batter using a rubber spatula. The batter will be smooth and thick.
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Pour the batter equally into the prepared pans, Bake for about 30 – 32 minutes, until a toothpick inserted in the center comes out clean.
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Allow the cake to cool on a wire rack for 15 minutes.
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Unmold the cakes by running a knife or a rubber spatula over the sides of the pan. Carefully flip them over.