AUDI, the premium carmaker owned by Volkswagen, has announced a massive investment program in new models and technology over the next five years. The company said it would invest around $30 billion between 2014 and 2018 and also said it had achieved its goal of an annual 1.5 million deliveries early.
“In the future, we will be investing increasingly in new products; 70 percent is intended for the modernization and expansion of the model range and for our portfolio of technologies,” said Axel Strotbek, an Audi board member for finance.
Audi, whose main rivals are fellow German carmakers BMW and Mercedes-Benz, said it is now eyeing two million deliveries a year by 2020, after reaching 1.5 million this year, two years earlier than planned. The group plans to extend its product range from 49 models currently to 60 by 2020, it said.