Volkswagen Group-owned “Audi AG” to Subsidize EUR 17 Billion in the Electro-Mobility

Volkswagen Group-owned “Audi AG” to Subsidize EUR 17 Billion in the Electro-Mobility

Volkswagen Group-owned “Audi AG” to Subsidize EUR 17 Billion in the Electro-Mobility

The German automobile manufacturer that designs, market and distribute luxury vehicles “Audi AG” on Wednesday revealed that it has assigned a budget of approximately 17 billion euros for its expenditure in electro-mobility as part of the ‘Road E strategy’.

In an announcement, the Chairman of the supervisory Board, Herbert Diess of Audi AG stated that, with the investment planning, we are making Audi stronger for the upcoming transformation of the core business and with this, we are offering Audi with the necessary resources for this.

However, the main purpose of the Supervisory Board and the Executive Board is to provide technical leadership in electric-powered as well as fully network driving.

Meanwhile, the subsidiary of Volkswagen Group and German auto-manufacturer has allocated a sum of EUR 35 billion for the future automotive projects and in the wake of the subsidiary group as a whole, Audi will be reinforcing investments in the electro-mobility till 2025.

From the luxury vehicles automotive industry’s entire 17 billion euros budget for electro-mobility, the Audi AG has specifically allocated approximately 15 billion euros for hybridization technologies alone, which, however, play a major role in the auto manufacturer’s electro-roadmap.

Moreover, Audi will also make use of the resources provided by the Volkswagen Group for digitization and for its future EV’s, the company is generating a premium platform electric (PPE) and will also manipulate the already existing modular electrification platform (MEB) that is, moreover, operated in models like Audi Q4, Skoda Enyaq, and the Volkswagen I.D range.

Lastly, the improvements in fixes costs, a streamlined product portfolio, and savings in unprofitable investments will further improve the auto manufacturer’s financial security and this financial scope is, however, created by the synergies in both the e-manifesto strategy and software development in the Volkswagen Group.

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