Audi to spend 14 billion euros in e-mobility and self-driving cars

Volkswagen’s premium auto brand Audi stated on Tuesday it would spend 14 billion euros ($15.9 billion) through 2023 in electric mobility, digitalization and self-driving.

Overall, the company’s projected expenditure for the upcoming five years amounts to 40 billion euros, the company stated. It also prepares restructuring measures that will generate 1 billion in revenues uplift already in this year.

“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,” stated 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.”