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Tuesday 4 December 2018

Audi announces €14 billion investment with focus on electric vehicles

The whole Volkswagen group is massively investing in electric vehicles as it is trying to move away from diesel vehicles.

Now Audi is making its part as it approves a new €14 billion investment plan in “electric mobility, digitalization and autonomous driving by the end of 2023.”

The German premium automaker announced today that the board approved the new investment plan, which will involve “property, plant and equipment as well as research and development expenditure.”

Bram Schot, temporary Chairman of the Board of Management of AUDI AG, commented on the announcement: “This planning round bears a clear signature: We are taking a very systematic approach to electric mobility and will be much more focused in future. We are consistently prioritizing our resources for future-oriented products and services that are highly attractive and relevant to the market. With models such as the recently presented Audi e-tron GT concept, we want to electrify people again for Audi and at the same time be an agile and very efficient company.

Interim CEO Bram Schot added: “We are systematically moving towards electric mobility and are consistently prioritizing future topics”

By 2025, Audi says that it will offer “approximately 20 electrified models, about half of which will have all-electric drive systems.”

The Audi e-tron SUV is the first and it will be followed by a Sportback version and the recently unveiled e-tron GT.


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