Audi to spend 22 billion EUR in next five years

AUDI AGAudi has unveiled its plans to invest around _22 billion in the next five years (2014-18).

This will be going in for developing new models, innovations and the constant development of the worldwide production network. About 70 percent of the total amount will be spent for new models and technologies. More than half of the planned investment will go to the Ingolstadt and Neckarsulm sites.

Chairman of the Board of Management at AUDI AG, Rupert Stadler, considers the current investment program as an important component of the company's growth strategy.

He says, "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. This is why we are keeping our foot on the gas regarding investments and why we are hiring new employees in 2014."

Earlier the company said that it aims to deliver around 2 million vehicles per year. The company wishes to expand its product range from the present 49 models to 60 different models by the year 2020.

Along with the development of new models and alternative drive concepts, the current investment program also caters for the next generation of fuel-efficient engines that will allow Audi to meet stricter emissions legislation worldwide.