VW’s luxury division, Audi Ag, on Friday said it would invest about $30 billion (€22 billion) between 2014 and 2018, the largest investment program in company history.
The announcement comes after the luxury automaker succeeded to sell 1.5 million vehicles in 2013.
“We had set the goal of 1.5 million deliveries per year by 2015, but we already achieved that quite comfortably in 2013. We are now decisively steering towards our next milestone of two million deliveries”, Rupert Stadler, Chairman of the Board of Management at AUDI AG said.
Audi plans to boost its model range from 49 now to 60 different models by 2020. The Ingolstadt based carmaker will launch the third generation TT model in 2014 and will produce the new Q1 compact crossover from 2016. On the same time, 700 young people will begin training in Ingolstadt and Neckarsulm in 2014.
“We want to hire the best in the industry to strengthen areas such as lightweight construction, connectivity and electromobility.”
Germany’s Audi says it would invest about €16 billion in fixed assets and €6 billion in capitalized development costs. The investment will help the company to develop high efficient engines to meet stricter emissions legislation worldwide.
About €11 billion, half of the investment is scheduled for Germany – Ingolstadt and Neckarsulm.