Audi to invest 14 billion euros in e-mobility, self-driving cars

The company’s total projected expenditure for the next five years amounts to 40 billion euros


Reuters December 04, 2018
The Audi logo is seen during the first press day of the Paris auto show, in Paris, France, October 2, 2018. PHOTO: REUTERS

FRANKFURT: Volkswagen’s premium auto brand Audi said on Tuesday it would invest 14 billion euros through 2023 in electric mobility, digitalisatio, and autonomous driving.

Hyundai signs deal to sell 1,000 hydrogen-powered trucks

Overall, the company’s total projected expenditure for the next five years amounts to 40 billion euros, the company said in a statement. It also plans restructuring measures that will generate 1 billion in earnings uplift already in 2018.

“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,” said Audi’s management board chairman Bram Schot.

Delivery period of new vehicles shortens, to affect profitability

“We are consistently prioritising our resources for future-oriented products and services that are highly attractive and relevant to the market.”

COMMENTS

Replying to X

Comments are moderated and generally will be posted if they are on-topic and not abusive.

For more information, please see our Comments FAQ

E-Publications

Most Read