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Audi to invest €22 in expansion through 2018

Luxury marque aims "resolutely" for two million deliveries annually

Published: December 31, 2013, 2:00 AM

2014 Audi Q5 TDI - headlamp detail

Luxury car maker Audi says it will invest €22 billion (about $32.3 billion Cdn) between 2014 and 2018, with 70% of the investment intended for new models and technologies. More than half will go to production facilities in Germany at Ingolstadt and Neckarsulm; the company says it will also concentrate on job creation.

“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," said Rupert Stadler, chairman of the board of management of Audi AG in a release.

The investment will include €16 billion in fixed assets and €6 in capitalized development. Audi management says the company intends to expand its product range from its current 49 models to 60 models by 2020, as well as developing alternative drive concepts, and the next generation of fuel-efficient engines.

Audi announced it would produce the new Q1 in Ingolstadt starting in 2016. A first for the company, a North American plant is planned for 2016, in San Jose Chiapa, Mexico; production will also resume in Brazil starting in 2015, with the A3 sedan and Q3. The company will continue to invest in its Hungarian engine facility, and in its
Foshan, China, production facility.