Audi To Spend $17 Billion in Ambitious Growth Strategy
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- Audi announced on Thursday that it will spend $17 billion through 2016 as part of an ambitious growth strategy that includes developing new cars and technology.
- Audi said more than $14 billion of that amount will be allocated to "modernizing and expanding Audi's portfolio of products as well as financing core areas of expertise such as lightweight design/construction and electric mobility."
- Audi said it wants to sell more than 2 million vehicles annually by 2020 in a bid to overtake BMW.
INGOLSTADT, Germany — Audi announced on Thursday that it will spend $17 billion through 2016 as part of an ambitious growth strategy that includes developing new cars and technology.
Audi said more than $14 billion of that amount will be allocated to "modernizing and expanding Audi's portfolio of products as well as financing core areas of expertise such as lightweight design/construction and electric mobility."
Audi said it wants to sell more than 2 million vehicles annually by 2020 in a bid to overtake BMW.
The growth strategy includes expanding production at the Audi factory in Gyor, Hungary, expanding capacity in China and building a new plant in San Jose Chiapa, Mexico that is slated to start producing cars in 2016.
Edmunds says: Audi said it intends to keep "its foot on the gas pedal" as part of parent Volkswagen's goal to become the world's largest automaker by 2018.
