German automobile manufacturer Audi AG (AUDVF.PK) said that it plans to invest 24 billion euros over the next five years in development of new models, technologies and expansion of worldwide production network. The investment for the period 2015 - 2019 is 2 billion euros more than in the previous planning period.
The company noted that the 70 percent of the investment will flow into the development of new models and technologies. At the same time, the company is expanding its worldwide production network. More than half of the planned investment will take place at the German sites in Ingolstadt and Neckarsulm.
Audi CEO Rupert Stadler said, "We are strengthening our innovative areas and expanding the global production network."
Audi plans to develop new cutting-edge technologies and to create additional production capacities worldwide in the next five years through large-scale investment.
The company is pushing ahead with the expansion of its global production network.
The total investment volume of 24 billion euros comprises approximately17 billion euros of investment in property, plant and equipment and 7 billion euros of capitalized development costs.
By the end of the year 2020, the Ingolstadt-based company intends to expand its model portfolio from 50 to 60 models. A main focus will be on new models in the C and D segments. Audi also intends to expand the successful Q family. As of 2016, such as, the new Audi Q1 will be produced in Ingolstadt.
The company noted that rebuilding work will start also in Neckarsulm in 2015, in order to prepare the plant for the next generation of the Audi A8 luxury sedan.
Audi noted that it opened a training center to provide qualifications to new employees in San José Chiapa in October. As well as the 1,200 people who have already been recruited, the company plans to take on board another 850 employees in Mexico alone next year. As of 2016, the Audi Q5 will drive off the assembly lines there.
According to the company, the ongoing investment in the development of new models and technologies will become tangible for customers already next year in the form of numerous products. In addition to the new generation of the A6 family in the large-car segment, deliveries of which started in the fall of 2014, the new Audi Q3 and Audi RS Q3 will go into production with many new technologies in the New Year. And the new Audi A1 and A1 Sportback will be launched in 2015, also with innovative three-cylinder engines.
Audi noted that it will reach the mark of 1.7 million cars delivered in 2014. By 2020, the company aims to be the premium brand number one on a sustainable basis.
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