The German luxury car-maker, Audi, recently announced that they will be investing $15.95 billion during the next five years into future technology surrounding transportation like electric vehicles, self-driving technology, and various digital services.
These investments, made through 2023, will include spending on property, factories and equipment, as well as research and development. Audi’s total projected expenditure for the five-year planning period will be $45.6 billion, the company announced Tuesday.
“This planning round bears a clear signature: We are taking a very systematic approach to electric mobility and will be much more focused in the future. We are consistently prioritizing our resources for future-oriented products and services that are highly attractive and relevant to the market,” according to Bram Schot, temporary chairman of the Board of Management of Audi.
Audi’s investment announcement Tuesday continues the company’s previously stated plans to develop electric vehicles. Back in 2015, then-Audi of America president Scott Keogh said that by 2025 at least one quarter of all Audi cars sold in the U.S. will have a plug.
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