Pursuits
Audi Plans to Spend $17 Billion on Expansion in BMW Pursuit
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Audi, the world’s second-largest maker of luxury vehicles, plans to spend 13 billion euros ($17 billion) through 2016 to develop new cars and expand production capacity as it pursues Bayerische Motoren Werke AG’s sales lead.
The Volkswagen AG unit budgeted more than 10.5 billion euros to develop vehicles and technologies, including lightweight auto design and electric powertrains, as part of the investment program, the Ingolstadt, Germany-based carmaker said today in a statement. The spending includes funds for expanding production at its factory in Hungary, adding capacity in China and building a new plant in Mexico.