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Audi Announces €14 Billion Investment in EVs

Audi ramps up commitment to electro-mobility, emerging technology for next five years…

Photo: Audi

Audi has announced it will expand its investment in electric mobility, digitalization and autonomous driving to €14 billion ($15.8 billion) through the end of 2023.

The German manufacturer, which recently announced its first three EVs, is set to pour additional money into research and development as well as associated property, plant and equipment expenditures over the next five years.

Overall, parent company Volkswagen Group has pledged to spend €40 billion ($45.3 billion) in EV technology.

“This planning round bears a clear signature,” said Bram Schot, temporary chairman of the board of management of Audi AG.

“We are taking a very systematic approach to electric mobility and will be much more focused in future. We are consistently prioritizing our resources for future-oriented products and services that are highly attractive and relevant to the market.

“With models such as the recently presented Audi e-tron GT concept, we want to electrify people again for Audi and at the same time be an agile and very efficient company.”

Audi has pledged to offer approximately 20 electrified models by 2025, half of them featuring full electric powertrains.

At the same time, it also pushing forward on the digitalization of its automobiles and plants and is expanding its business model with new digital services.

In order to finance its course for the future from its own resources, the company is systematically rolling out the so-called “Audi Transformation Plan” that has seen the manufacturer already positive earnings of more than €1 billion this year.

The plan is also aimed at reducing complexity, systematically utilizing synergies and identifying and discontinuing activities that are no longer relevant to customers.

It’s unclear if Audi’s new focus on electro-mobility will have an effect on its existing motorsports programs, besides its involvement in the ABB FIA Formula E Championship, which follows the new strategy.

John Dagys is the founder and Editor-in-Chief of e-racing365. Dagys, who launched the industry-leading Sportscar365 in 2013, spent eight years as a motorsports correspondent for FOXSports.com/SPEED Channel, and contributes to other publications worldwide. Contact John

6 Comments

6 Comments

  1. Frank

    December 4, 2018 at 1:11 pm

    Too little too late. Fraud should cost these German manufacturers more. The German manufacturers are so far behind Tesla it’s embarrassing. However there is a huge negative media campaign towards Tesla in Germany probably financed by the German manufacturers. They probably threaten to withhold advertising revenue if positive reporting occurs.

    • Mike

      December 4, 2018 at 1:57 pm

      What is your point? Do you think because Tesla did it first, that people only want to buy Teslas? Well that is just not true. What is there to be “embarrassed” about? They are a company developing an electric car. It doesn’t matter when they start. When they make it, people will buy it….

      By your logic, why do so many auto manufacturers coexist selling gasoline cars if someone did it first?

      • John

        December 4, 2018 at 8:47 pm

        One of Musk’s stated goals in starting Tesla was to encourage the rest of the industry to develop EV programs of their own.

        But blind allegiance explains a lot of why society finds itself in the state its in. Most people can’t critically think their way out of a paper bag.

  2. Erwin Greven

    December 4, 2018 at 5:21 pm

    The fraude damage is very limited. The Audi brand is too strong. In fact i think that i would rather buy an Audi EV than a Tesla. In Europe we know how well made German cars are.

  3. Me

    December 4, 2018 at 6:01 pm

    Why EV died the day it started…stop gap till every asshole wakes up to the fact EV won’t last and alternate fuels reign supreme…..block this comnent Days

    • Tin Foil Hat

      December 5, 2018 at 1:38 am

      You can come and hang out with me in my backyard nuclear bomb shelter.

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