Audi intends to introduce on the market more than 20 electrified models by 2025 and sell 800,000 units annually by that time.
Audi e-tron quattro concept
The German manufacturer (part of the Volkswagen Group) last year sold some 1.88 million cars, but only around 16,000 plug-in hybrids.
Audi didn't reveal how many of those 20 models will be all-electric, plug-in hybrid or hybrid.
The two first all-electric will be the e-tron SUV (hinted by the e-tron quattro concept a few years ago and scheduled for this year) and its derivative the e-tron Sportback.
To achieve the ambitious goal, Audi is going to use VW's MEB platform in some of the upcoming models and develop a joint platform with Porsche.
Audi would like to launch new models, without undermining its 8-10% operating margin target. But all the new models require big investments and some conventional models needs to be ceased:
"To fund its electric-vehicle offensive through to the middle of the next decade, Audi has extended by three years until 2025, an investment program worth about 40 billion euros ($47.42 billion), it said.
To free up funds for its electric-car push Audi is ceasing production of some models, including two-door versions of its A1 and A3 vehicle lines, as well as cutting component and administration costs. It now aims to save at least 10 billion euros by 2022."