Audi will spend 22 billion euros (approximately $30.35 billion) over the next five years on new models, technology and expansion of its global production facilities to help reach its stated goal of 2 million annual sales by 2020. Buoyed by the success of selling 1.5 million vehicles this year, a goal reached two years ahead of schedule, Audi is now confident of reaching its new target but understands it needs to spend money to make money.
“We had set the goal of 1.5 million deliveries per year by 2015, but we already achieved that quite comfortably in 2013,” Audi CEO Rupert Stadler said in a statement. “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.”
The bulk of the 22 billion euro investment, the highest in Audi’s history, will be spent on new models and technologies. And more than half of the planned investment will go to Audi’s German hubs of Ingolstadt and Neckarsulm.
Audi has already confirmed it will launch 11 new models
to help it reach its 2 million sales target, up from a current lineup of 49 models, and just this week trademark filings for potential new Audi model names were revealed
. One new model that has already been confirmed is a Q1 subcompact crossover
due in 2016. We’re also expecting sporty Q2, Q4 and Q6 coupe crossovers as well as a Q8 or Q9 luxury SUV
In addition to the new models, Audi will develop alternative drivetrains including fuel cell technology. There will also be more e-tron electrified drivetrains and g-tron natural gas options.
Part of the investment will also go to fund the development of new Audi manufacturing facilities in Mexico and Brazil, both of which are expected to be operational by 2016. Meanwhile, the automaker’s second plant in China, located in the Guangdong province, will become operational next year._______________________________________Follow Motor Authority on Facebook, Twitter, and Google+.