According to its new budget plan released today, Audi is pushing its electric vehicle investments to $12 billion. The new budget that goes through 2025 proves the Volkswagen Group’s dedication towards electrification.
Audi was the first Volkswagen brand to release a next-generation electric vehicle with the release of the e-tron electric SUV. Now, the German manufacturer is upping its investment in electrification with €10 billion ($12 billion USD) in spending through 2025: “On the basis of the investment planning, upfront expenditure in the years 2021 to 2025 focuses on the uncompromising implementation of Roadmap E, with a large-scale product offensive for fully and partly electric models. For electrification alone, a sum of approximately €15 billion – more than 40 percent of the total expenditure – is foreseen in the context of the planning round. Specifically, some € 10 billion is to be devoted to electromobility and € 5 billion to hybridization. By 2025 AUDI AG will expand its e-portfolio to about 30 models, of which approximately 20 will be powered entirely by electric batteries.”
Initially, Audi planned on investing $12 million into overall electrification. With this new information Audi will now invents $12 million into electric vehicles solely, with a $6 billion piece of the pie going toward hybrids.
In the next few years, Audi is expected to release several new all-electric vehicles. The first of many being the Audi Q4 e-tron electric SUV which is expected to launch early 2021, and the Audi e-tron GT which Audi is expected to unveil its final version before it goes into production at the end of this year and reaches showrooms in early 2021.