Audi Pouring More Money Into Electric Mobility

“Audi is to invest €12bn (US$13.3bn) of its five-year €$37bn (US$41bn) R&D budget on electric mobility. By reassigning funds from the Audi Transformation Plan (ATP), another €6bn (US$6.6bn) will be invested by 2029.

In the first phase of investment, Audi aims to apportion funds to the 30 electrified models in its range, of which 20 will be fully electric by the middle of the next decade. In the same five-year timeframe, Audi believes 40% of its sales will be electric or hybrid vehicles, but this can only be achieved by working with Porsche to develop architectures for premium electric cars. Audi will then team up with Volkswagen to develop a modular e-drive system…“