Audi Will Increase EV Investment To €12 Billion By 2025

The automaker wants to accelerate the rate at which it is switching to building electric or electrified vehicles.

By: Andrei Nedelea

Dec 4, 2020 at 8:21am ET

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Back in 2018, Audi announced its intention to sell up to 800,000 fully electric or hybrid cars by 2025, and now it has renewed that commitment by announcing how much it plans to invest to achieve it. It has just announced that it will be investing €12-billion in electric cars alone, a big chunk of its entire planned spendings of €37-billion between 2020 and 2024.

In order to achieve the 800,000 sales figure, Audi has plans to launch over 30 electrified or fully-electric models, out of which it says 20 will be of the latter variety. This will incur a restructuring of its business generally speaking, so some factories will see a reduction in the workforce - some 9,500 jobs will be eliminated by 2025, but at the same time around 2,000 new jobs will be created around the manufacturing of EVs.

According to Herbert Diess, Chairman of the Supervisory Board of AUDI AG,

' With the investment planning that has now been carried out, we are making Audi stronger for the upcoming transformation of the core business. Technological leadership in electric-powered and fully networked driving is the aim of the supervisory board and management board. We are providing Audi with the necessary resources for this. '

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Even Audi’s home factory, in Ingolstadt, is currently being retooled and reconfigured to build premium electric vehicles, along with its Neckarsulm factory. In order to not put itself in a delicate financial situation, the automaker is also looking to cut costs, with a set goal of saving €10-billion between 2018 and 2022.

So what is next for Audi electric vehicles? Well, the next big launch will be for the e-tron GT, a sister model to the already very popular Porsche Taycan. Next, it will be followed by the Q4 e-tron and Q4 e-tron Sportback models (based on the MEB platform that also underpins the VW ID.4). There will also be a Q2 e-tron model and there is a very strong chance that the R8’s replacement will only be available as an electric vehicle (they may ditch the V10 altogether, although this is reportedly still being debated).