Audi AG announced on Thursday it will increase its investment in electrification and hybridization to around €18 billion between 2022 and 2026. The sum is a part of a larger investment in research and development as well as in property worth around €37 billion. The automaker plans to have more than 20 fully electric models in its lineup by 2025.
"Starting in 2026, Audi will only launch new models that are fully electric on the global market. The company will gradually phase out production of its internal combustion engines by 2033. With a clear decision as the result of an intensive strategy process, Audi aspires to continue to grow profitably. Based on market forecasts and its own attractive model portfolio, the company will ship three million cars per year from 2030. With increasing Group synergies, Audi is additionally aiming for a sustainable operating return on sales of more than 11 percent over the long term," the company said.
