Audi, Volkswagen’s premium brand, announced on Tuesday it will invest 14 billion euros by 2023 in electric mobility, digitalisation and autonomous driving.
The company’s estimated total spend for the next five years amounts to 40 billion euros. It also plans to take restructuring measures that will generate $ 1 billion in earnings.
“This planning has a clear meaning, we have a systematic approach to electrical mobility and we will be much more focused in the future,” said Bram Schot, acting Audi Chairman. “We prioritize resources for future-oriented products and services that are very attractive and relevant to the market.”