facebook
twitter
search
search

Audi plans $30 billion in investments

Dec. 27, 2013 at 2:17 PM
| License Photo

FRANKFURT, Germany, Dec. 27 (UPI) -- Automaker Audi said it plans to invest $30 billion through 2018, the bulk of which will go to its development facilities in two towns in Germany.

More than half of the investment will be spent at Audi facilities in Ingolstadt and Neckarsulm, the Wall Street Journal reported Friday.

The spending is part of a $115.9 billion investment commitment by parent company Volkswagen, the Journal said.

Audi Chief Executive Officer Rupert Stadler said Audi had already reached its 2015 target of 1.5 million vehicles sold this year. Its new goal is 2 million per year, Stadler said.

To do that, the company will extend its offerings from 49 models to 60 by 2020, Stadler said.

Like Us on Facebook for more stories from UPI.com  
Related UPI Stories
Latest Headlines
Top Stories
B-52 bombers demo long reach of U.S. air power
Army orders tactical trucks from Oshkosh
Reddit CEO Ellen Pao offers to improve communication in wake of firing scandal
Report: Brazil's Petrobras wading dark waters
Oil markets hammered by Greece, Iran and China