By Kim Richters

Audi AG said Wednesday that it will invest around 15 billion euros ($17.99 billion) in electromobility and hybridization over the next five years.

"By 2025 AUDI AG will expand its e-portfolio to about 30 models, of which approximately 20 will be powered entirely by electric batteries," the German car brand said.

The Volkswagen AG subsidiary said it plans to invest around EUR35 billion in R&D and fixed-asset investments between 2021 and 2025. Around EUR17 billion of this will be invested in future technologies, including electrification, it said.

Write to Kim Richters at kim.richters@wsj.com

(END) Dow Jones Newswires

December 02, 2020 12:07 ET (17:07 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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