Audi accelerates electric vehicle plans with $12 billion investment
"Audi has announced an acceleration of its electric vehicle plans with an updated investment schedule, including €12 billion in electric vehicles.
The German automaker announced upfront expenditure totaling approximately €37 billion for the years of 2020 through 2024.
Alexander Seitz, Board of Management Member for Finance, China and Legal Affairs at Audi AG, announced more money for electric vehicles as part of the updated expenditure:
“With our Consistently Audi strategy, we are accelerating our roadmap towards electrification. Our investment planning takes this into account. At around €12 billion, we will spend more than ever before on electric mobility by 2024.”
By 2025, Audi says that it will have “more than 30 electrified models in its product range” and “20 of which will be fully electric.” "