Audi Investing $16.5b in New Vehicles and Production Plants

Audi will invest $16.5 billion over the next four years as it aggressively pursues growth in the face of a challenging global economic climate.

The ambitious capital expenditure program will see the prestige German manufacturer focus on the development of new vehicles and technologies as well as the completion of three new manufacturing plants.

Nearly $10 billion will be invested into existing hubs in Ingolstadt and Neckarsulm as Audi modernises and expands its showroom line-up and intensifies its efforts in the areas of electric mobility and lightweight design and construction.

Audi’s expansion plans should see the completion of the manufacturing site in Gyor, Hungary, later this year, followed by assembly lines in Foshan, China, in early 2014 and San Jose Chiapa, Mexico by 2016.

Audi AG chief financial officer Axel Strotbek said investment in international production facilities was fundamental to the brand’s goal of becoming the world’s top-selling premium vehicle brand and boosting its sales to more than two million per year by 2020.

“The expansion of our global manufacturing infrastructure will help us to continue growing,” Strotbek said. “We will keep investing large sums to pursue our growth strategy.”

 

Courtesy of caradvice.com