Audi all set to invest €14 bn in electric mobility and self-driving cars

Volkswagen’s premium auto brand Audi said on Tuesday it would invest €14 billion ($15.9 billion) through 2023 in electric mobility, digitalisation and autonomous driving.Overall, the company’s total projected expenditure for the next five years amounts to €40 billion, the company said in a statement. It also plans restructuring measures that will generate €1 billion in earnings uplift already in 2018.[caption id="attachment_4607431" align="alignnone" width="1280"]

Audi Logo[/caption]“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,” said Audi’s interim management board chairman Bram Schot.“We are consistently prioritising our resources for future-oriented products and services that are highly attractive and relevant to the market.”