Audi to increase electrification spending

LinkedIn +

German OEM Audi has announced plans to increase electrification spending as part of a US$40.9bn (€37bn) investment into research and development, and property, plant and equipment, over the next five years.

The manufacturer is planning upfront expenditure of US$13.2bn (€12bn) solely for electric mobility. Since the start of the Audi Transformation Plan (ATP) is has contributed US$4.4bn (€4bn) to earnings. Further measures are expected to free up approximately US$6.6bn (€6bn) for future investments by 2029.

“With our Consistently Audi strategy, we are accelerating our roadmap towards electrification. Our investment planning takes this into account,” said Alexander Seitz, board of management member for finance, China and Legal Affairs at Audi. “At around €12bn, we will spend more than ever before on electric mobility by 2024.”

In order to achieve the rapid scaling of electric mobility, Audi is working with Porsche to develop the premium electrification architecture (PPE) for large electric cars, and the Modular E Drive System (MEB) is being developed together with Volkswagen.

Share this story:

About Author

mm

Sam joined the UKi Media & Events automotive team in 2017. Having started out as assistant editor for a number of titles including Engine + Powertrain Technology International, Automotive Testing Technology International and Professional Motorsport World, he was appointed editor of E+PTI in 2020. Sam produces content for both the magazine and website.

Comments are closed.