Getting your Trinity Audio player ready...
Audi AG plans to spend $10.51 billion on plant upgrades, new products and technology research as it moves to expand its customers worldwide and increase market share.
Audi, a unit of Volkswagen AG, said Monday that it plans to spend that amount from 2009 to 2012 and will increase the number of models from 34 to a planned 42 by 2015. About 80 percent of the investment is earmarked for new products and future technologies.
“With our planned investments in new products and mobility concepts — for example, electric propulsion — we are creating a basis for our company’s future growth,” said Axel Strotbek, who oversees finance and organization at the company.