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As part of its roadmap toward electrification, Audi AG is planning upfront expenditure of $18 billion solely for electric mobility, more than ever before.

03 Dec 2019 | International News : Germany

Audi has decided on upfront expenditure totalling approximately $55.8 billion for the years of 2020 through 2024. This amount comprises investment in property, plant and equipment as well as research and development expenditure. The current planning reflects a significant improvement in investment and cost discipline, as well as the strong prioritisation of investments in electric mobility.

"With our Consistently Audi strategy, we are accelerating our roadmap towards electrification. Our investment planning takes this into account," says Alexander Seitz, Board of Management Member for Finance, China and Legal Affairs at Audi AG. "At around €12 billion ($18 billion), we will spend more than ever before on electric mobility by 2024."

By 2025, Audi intends to have more than 30 electrified models in its product range - 20 of which will be fully electric. Audi also intends to achieve about 40% of its worldwide unit sales with all electric and hybridised automobiles by then. In order to achieve the rapid scaling of electric mobility, Audi is working with Porsche to develop the Premium Electrification Architecture for large electric cars, and the Modular E Drive System is being developed together with Volkswagen. The cross-brand architectures will enable high Group synergies to be utilised in the future.

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