London, December 4: Volkswagen’s premium auto brand Audi said today it would invest 14 billion euros ($15.9 billion) through 2023 in electric mobility, digitalization and autonomous driving.
Overall, the company’s total projected expenditure for the next five years amounts to 40 billion euros, the company said in a statement. It also plans restructuring measures that will generate 1 billion in earnings uplift already in 2018.
“This planning round bears a clear signature: We are taking a very systematic approach to electric mobility and will be much more focused in future,” said Audi’s interim management board chairman Bram Schot.
“We are consistently prioritizing our resources for future-oriented products and services that are highly attractive and relevant to the market.”
It has confirmed that Audi currently has no plans to manufacture a car (Audi A1) on the MQB A0 platform in India. Under his leadership, Skoda India has been tasked to localise the platform that will underpin upcoming mass-market cars from both Volkswagen and Skoda.
Audi revealed the new Al hatchback earlier in 2018 and the carmaker has not announced whether it will be coming to India yet. However, since it's based on a platform that is soon going to be localised, it won't be surprising if Audi at least assembles it in India, if not manufacture it here.