World Economy

Audi Investments

Audi InvestmentsAudi Investments

Volkswagen’s flagship Audi division is to increase spending on new models, plants and technology through 2019 to push its goal of surpassing German rival BMW as the world’s largest luxury-car manufacturer, Reuters said. Audi, which contributes 40% of operating profit at Europe’s biggest automotive group, said on Saturday it will push up investment in car-making operations by 2b euros ($2.44b) to a record 24b euros over the next five years. Seventy percent of spending will be assigned to developing new models and technologies such as emission-cutting plug-in hybrid vehicles, Audi said. The brand is also working on purely electric cars to catch up with BMW and Tesla Motors.