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Audi announces AED111.5 billion global expansion
Middle East and Africa third-largest growth market in 2012.
December 31, 2013 7:03 by kippreport
Audi is planning an extensive investment programme for the next five years and, between 2014 and 2018, a total of AED111.5 billion (€22 billion) will flow into new models, innovations and the continuous expansion of the worldwide production network. The German car maker also plans to create more jobs globally in 2014.
According to the company, 70 per cent of the investments are intended for new models and technologies. The German sites will also benefit from the largest technical development and investment programme in company history – more than half of the planned investment will go to the Ingolstadt and Neckarsulm sites.
Investment in fixed assets will amount to €16 billion. In addition to the fixed assets, the new investment programme includes €6 billion in capitalised development costs.
Rupert Stadler, chairman of the Board of Management at AUDI AG, views the current investment program as an important component of the company’s growth strategy, adding that the set goal of 1.5 million deliveries per year by 2015 was achieved “quite comfortably” in 2013.
“We are now decisively steering towards our next milestone of two million deliveries. This is why we are keeping our foot on the gas regarding investments and why we are hiring new employees in 2014,” he said.
To achieve its goal of two million deliveries per year, the manufacturer wants to expand its product range from the current 49 models to 60 different models by 2020. In addition to developing new models and alternative drive concepts, the current investment programme also provides for the next generation of fuel-efficient engines, which will enable Audi to meet stricter emissions legislation worldwide.
During its annual press conference in Ingolstadt, Germany, Stadler told TRENDS magazine that the Middle East and Africa was the third-largest growth market for Audi in 2012 at 16.4 per cent, behind Asia-Pacific (28.1 per cent) and North America (18.5 per cent). The company also announced that it surpassed its targets for 2012 by selling 1.45 million automobiles worldwide, increasing its revenues to AED233 billion.