FRANKFURT: Volkswagen's premium auto brand Audi said on Tuesday it would invest 14 billion euros ($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 euros, the company said in a statement. It also plans restructuring measures that will generate 1 billion in earnings uplift already in 2018.
"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.
View all SMART GRID Bulletins click here