Audi to invest £1.5 billion in EV development
Mon 05 January 2015
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Audi has announced that it will invest £1.5bn in the development of two new electric vehicles, planned for release by 2018. Audi launched its first plug-in vehicle in 2014; the A3 e-tron plug-in hybrid.
Audi’s Chief Executive Rupert Stadler said the new models would be an electric sports car and a sports activity vehicle.
Audi's push to develop electronic drive and digital technologies means the division will add 2 billion euros ($2.4 billion) to its investments by 2019. Audi's total investment budget through 2018 totals to 22 billion euros.
According to Forbes magazine, VW Group - of which Audi is a part - has accelerated investment in cleaner and low emission technologies, in a bid to launch more environmentally friendly cars in the future.
In China, VW’s single largest market, the company is looking to launch over twenty electric and plug-in hybrid electric vehicles over the next few years, ranging from small-sized cars to large SUVs.
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