Audi, a member of the Volkswagen Group that designs, engineers, produces, markets and distributes luxury vehicles announced on Tuesday that it will invest 14 billion euros ($15.95 billion) over the next five years on future transportation technologies such as electric mobility, autonomous driving, and digital services.
In a statement, the German automaker said that the total projected expenditure for the next five years amounts to 40 billion euros ($45.6 billion).
“This planning round bears a clear signature: We are taking a very systematic approach to electric mobility and will be much more focused in future. We are consistently prioritizing our resources for future-oriented products and services that are highly attractive and relevant to the market,” according to Bram Schot, temporary chairman of the Board of Management of Audi.
In order to finance its course for the future from its own resources, the company is systematically rolling out its successful Audi Transformation Plan. With this program, Audi will already generate positive earnings effects of more than €1 billion in 2018, counteracting the financial burden from high advance expenditure.
In addition to transferring resources to areas of the future, the Audi Transformation Plan is primarily aimed at reducing complexity, systematically utilizing synergies, and identifying and discontinuing activities that are no longer relevant to customers.
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