Audi to Increase Spending on Electromobility Up to 2026
December 16 2021 - 05:28AM
Dow Jones News
By Kim Richters
Luxury-car maker Audi AG said Thursday that it is increasing
investments in electromobility for the next five years.
The Volkswagen AG brand plans to spend 18 billion euros ($20.32
billion) between 2022 and 2026 on electrification and
hybridization, up from a previously planned EUR15 billion.
The spending is part of a total investment amount of EUR37
billion set for the period for research and development and
investments in property, said Audi.
"The current round of planning reflects our accelerated future
trajectory. Based on this investment planning, the focus of our
advance payments until 2026 is quite clearly on consistently
implementing the roadmap with a comprehensive product offensive of
fully and partially electric models," said Juergen Rittersberger,
management board member for finance and legal affairs at Audi.
The Audi investment plan is part of Volkswagen's EUR159 billion
budget for the next five years, which the German car maker updated
last week.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
December 16, 2021 05:13 ET (10:13 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
Volkswagen (TG:VOW3)
Historical Stock Chart
From Feb 2024 to Mar 2024
Volkswagen (TG:VOW3)
Historical Stock Chart
From Mar 2023 to Mar 2024