In a move to develop new transportation technologies like self – driving, digital services,and electric mobility, German carmaker Audi plans to invest €14 billion for a period of five years. The announcement was made public on Tuesday.
During the investment period, i.e. from 2019 to 2023, the company will utilize the money on areas like property, factories and equipment, and R&D.As per the company, the estimated overall expenditure for the development will be €40 billion.
The new investment plan will also include the company’s previously stated plans to develop electric vehicles. As stated by Audi America’s president, Scott Keogh in 2015, the cars that will be sold by Audi by 2025, one-quarter of them will have a plug.
Audi unveiled the e-Tron, the company’s first all-electric SUV in September this year. The company intends to roll out 20 electrified models (including hybrids) by 2025. Out of the 20 vehicles, at least 10 will be equipped with all-electric drive systems.Concurrently, the company aims to digitalize its plants and automobile. Apart from that, it is looking to increase its business model with new digital service -“functions on demand.”
According to Bram Schot, Audi’s temporary chairman of the Board of Management, the planning round carries a clear signature: strictly, the company is taking an orderly approach to electric mobility and to become more focused in the future.
The company is constantly focusing on the resources for future-oriented products and services that are highly striking and important to the market.