Wednesday, 19 December, 2018

Audi will invest over €14 billion in e-mobility advance

Audi also plans restructuring measures that will generate €1 billion in earnings uplift already in 2018 Audi also plans restructuring measures that will generate €1 billion in earnings uplift already in 2018
Priscilla Morrison | 05 December, 2018, 16:27

Around 14 billion euros will go to electric mobility, digitisation and autonomous driving through 2023. Overall, the company's total projected expenditure for the next five years amounts to €40 billion, the company said in a statement.

By 2025, the automaker will offer about 20 electrified models, about half of which will be full-electric cars.

Interim CEO Bram Schot thus sounds right when he says that Audi is "systematically moving towards electric mobility" and that future topics have priority for the German carmaker.

Audi is now working on three electric cars that could be callled the signature edition.

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The e-tron is set to be followed by the e-tron GT Sportback in late 2020, and it's already been previewed by a striking new concept vehicle revealed at the Los Angeles Auto Show last week. The e-tron Sportback arrives late next year.

So far, Audi has no electric cars on the market, by contrast with its key competitor BMW, but the launch of the Audi e-tron SUV is planned before the end of this year. Audi gave a glimpse of the third model, the e-tron GT, with a concept at the Los Angeles Auto Show last month.

Investments will also be made in property, plants and equipment, as the company plans to increase its research and development expenditure.

Audi also plans restructuring measures that will generate €1 billion in earnings uplift already in 2018.

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