Volkswagen’s luxury division Audi, the second-largest premium automaker in the world, has announced it has decided to climb up the investment tally on new models, factories and technologies over the five-year period to 2019.
The drive sees the four rings brand pushing even harder then before in a move that they hope would lead to Audi finally securing the top position currently held by German rival BMW. Audi is contributing with around 40% of the operating profit at Volkswagen AG, the biggest auto group in Europe and the second-largest in the world and the premium brand has announced it would further climb the investment tally for its car operations by another 2 billion euros ($2.44 billion) to a record 24 billion euros. Audi further disclosed that 70% of the figure would go towards the development and production of new models and technologies, including lower-emission models such as plug-in hybrid vehicles. We already know from CEO Stadler that the brand is also working hard on delivering before 2018 two purely-electric models, a sports car and a sport activity vehicle with all-wheel drive traction.
Chief Executive Rupert Stadler said “we place top priority on sustainable growth,” with “large investments in the innovative areas of electric mobility, connectivity and lightweight construction.” Audi is aiming to increase spending on its two German factories in Ingolstadt and Neckarsulm, which make up around 50% of the carmaker’s global production, while also investing more than 1 billion euros on new plants in Mexico and Brazil.