Audi Boosts Spending In Hunt For Top Luxury Spot
Volkswagen's luxury arm Audi will spend nearly 17 billion dollars over the next three years, in a push to become the world's best-selling prestige marque by 2020. The majority of the investment will go into Audi's development facilities
Volkswagen's luxury arm Audi will spend nearly 17 billion dollars over the next three years, in a push to become the world's best-selling prestige marque by 2020.
The majority of the investment will go into Audi's development facilities in Germany, with much of the remaining funds committed to increasing production capacity in Hungary and China.
The prestige marque will focus on new materials and construction technologies, along with electric vehicles and a new facility for developing hydrogen and natural gas systems.
A new plant in Mexico is also planned, with production scheduled to begin there in 2016.
Audi is targeting two million global sales annually by 2020, up from an estimated 1.4 million in 2012 - a new record for the company. The company's key rivals BMW and Mercedes-Benz are also expecting record years, however.
Segment-leading BMW confirmed almost 1.4 million sales by mid-December, while Mercedes-Benz' car division notched up nearly 1.2 million in the same period.
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