Audi revises investment plan to €24 billion by 2020

Audi has updated its massive investment plan and now they want to spend whopping €24 billion within the next four years. The initial plan was boosted by €2 billion as Audi wants to increase efforts to chase and overtake BMW in the battle for the best-selling luxury brand. Approximately 70 percent of the money will be going into new models such as the Q1 which will serve as their entry-level crossover offering.

By the end of the decade, Audi’s lineup will grow to include no less than sixty models and around that time they estimate to dethrone BMW. The equivalent of €4.8 billion will be spent each year, up by €0.4 billion compared to the original plan and one of the new models currently in the pipeline is an electric crossover tailored to the U.S. market so it will likely end up being a Tesla Model X competitor.

You Might Also Enjoy:  Audi will lead Volkswagen Group in hydrogen fuel cell technology

Audi’s investment plan also includes establishing a factory in Mexico which will start assembling the second generation Q5 in 2016 for America. Next year at this facility they will hire a total of 850 workers to get everything ready for commencing production.

Aside from the electric crossover, Audi is also planning to introduce an electric sports car which will likely be the R8 e-tron based on the second generation of the supercar scheduled to arrive in 2015.

via Automotive News

Adrian Padeanu

Long-time fan of the fabled Four Rings.