The Audi Group says it plans to invest €3bn in digitisation and electrification of its vehicle range.
It’s published its results which show a record revenue figure of €58.4bn, with an operating profit of €4.8bn.
During the Annual Press Conference held at the company’s headquarters in Bavaria, chairman Rupert Stadler said, “we successfully mastered a year of challenges. We will now invest in 2016 alone more than €3 billion for the mobility of tomorrow, and we will push forward with the electrification and digitization of our products.”
The investment he mentioned is intended for this year alone.
Audi says it will “maintain the high speed of its product initiative” with the new Audi Q2 for example, the company says it intends to “conquer a new market segment and continue the success story of the Q family”.
In a statement the company says the high advance expenditure for the future – such as the “pioneering technologies” – will initially affect earnings negatively, but “nonetheless, the Audi Group aims to achieve an operating return on sales within the strategic target corridor of eight to ten percent also in financial year 2016.”