Audi’s Board of Management approves new, EV-focused €14B investment plan

Audi’s Board of Management approves new, EV-focused €14B investment plan

In a recent announcement, German premium automobile company Audi AG has revealed that the company’s Board of Management has approved a new €14 billion investment plan, which will focus on electric vehicles (EVs).

Audi’s announcement about the company’s Board giving approval to a new, EV-focused investment plan is significant because it comes at a time when Audi -- along with other companies of the Volkswagen Group -- are planning to make substantial investments in the EV arena. The electrification efforts by the automakers are evidently aimed at a transition from diesel-powered vehicles in the coming years.

According to the announcement, Audi’s new investment plan pertains to the automaker’s spending in “electric mobility, digitalization and autonomous driving by the end of 2023.”

Audi has further specified that the expenditure undertaken by the company under the new investment plan would include “property, plant and equipment as well as research and development expenditure.”

Commenting on Audi’s announcement about the new investment plan, Bram Schot -- temporary Chairman of the Audi AG Board of Management -- said that the approval to the EV-centric investment plan clearly indicates that Audi is “taking a very systematic approach to electric mobility and will be much more focused in future.”