German automobile manufacturer Audi will be investing $28bn from 2015 through 2019, which is the biggest investment programme in its history, the company said in a statement.
The investment outlay is $2.35bn more than the company had planned in the previous period.
According to Audi, the majority of its investments will go into the development of new models and technologies.
“Seventy per cent of all our investment in the next five years will flow into new models and innovative technologies,” says board of management member for finance (CFO) Axel Strotbek.
The company aims to meet CO2 limits worldwide with a new generation of extremely economical combustion engines and alternative efficiency technologies.
At the same time, the company is expanding its worldwide production network. More than half of the planned investment will take place at the German sites in Ingolstadt and Neckarsulm.
“We are strengthening our innovative areas and expanding the global production network,” says Audi CEO Rupert Stadler.
Last year, Audi has recruited approximately 3,000 new employees in Germany alone. “We will continue to recruit in 2015, thus underpinning our course of sustainable growth,” explains Audi’s board of management member for human resources, Thomas Sigi.
“We are constantly further developing alternative drive systems and focusing above all on connecting the car with its digital environment,” explains Dr. Ulrich Hackenberg, Audi’s board of management member for technical development.
In 2014, Audi exceeded its goal of 1.7 million deliveries: By year-end, the company handed over around 1,741,100 cars to customers, 10.5 per cent more than in 2013.