Audi gives up, will build an upscale Volkswagen Up! – report

As per a latest report, Audi has plans to sell 2.4 million vehicles annually by 2020.

In order to meet this ambitious target, the company will apparently expand their production capacity and also introduce a variety of new models. The onslaught is expected to begin somewhere in 2015 when the company launches the models that include Q6, Q8 and a version of the Volkswagen Up!

There are already quite a few details available about the Q6 and Q8 but the Audi Up! is still shrouded under a bit of mystery. Some of the earlier reports have indicated that it will be an electric vehicle that will have an electric motor producing 114 hp (85 kW) and 199 lb-ft (270 Nm) of torque. It could be powered by an 18.7 kWh battery which may enable the model to travel up to 125 miles (200 km) on a single charge.

The new models will however hit the Audi’s bottom line as the company expects to post lower profit margins for the next two years. However, Audi Chairman Rupert Stadler told Germany’s Manager Magazin that they will increasingly reap the reward of this investment starting in the year 2016.