Audi plans to invest in new vehicles, technology and plants to increase market share, making up for the continuous loss in Europe.
Audi said today, December 27th, it will invest 13 billion euro ($17.2 billion) through 2016 for its global operations, with more than 8 billion from this sum to be spent for its two main German plants in Ingolstadt and Neckarsulm. The money will also be used for Audi’s plan to expand in other markets, building plants in China and Mexico and adding new technology to its plants in China and Hungary.
“We have no plans to take the foot off the accelerator, because when the crisis is over, there will be another recovery,” Chief Executive Rupert Stadler said in an interview at Audi’s Ingolstadt headquarters.
On November 23rd, Volkswagen said it would spend 50.2 billion euro on equipment, plants and products over the following three years as it tries to make its Audi brand the world’s largest auto maker by 2018. By making these investments, VW also consolidates its lead over PSA Peugeot Citroen and Fiat, which have postponed their engine technologies, vehicle programs and platform revamps due to high fixed costs in the slowing European market.