Audi plans $30 billion in investments

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.