Audi keeps its foot on the gas pedal



Published — Thursday 10 January 2013

Last update 9 January 2013 11:08 pm

| نسخة PDF Print News | A A

Despite challenging economic circumstances, Audi is maintaining its ambitious capital-expenditure program. The Audi Group plans on investing €13 billion through 2016 to continue resolutely maintaining its course for growth as per its Strategy 2020. Expenditures will primarily address the development of new products and technologies as well as the construction of new plants. Nearly €8 billion will be invested in the German sites of Ingolstadt and Neckarsulm.
Audi is maintaining its robust capital-expenditure program to the tune of €13 billion in coming years. “We will keep investing large sums to pursue our growth strategy,” explains Axel Strotbek, member of the board of management for finance and organization at AUDI AG. He added that the group wants to spend more than €2 billion every year on new products and technologies.
All in all, more than €10.5 billion is to be allocated through 2016 to modernizing and expanding Audi’s portfolio of products as well as financing core areas of expertise such as lightweight design/construction and electric mobility. Conventional powertrains are to be rendered even more efficient.
Nearly €8 billion has been earmarked just for the German sites of Ingolstadt and Neckarsulm in the next five years. In addition, expansion of the site in Gyor, Hungary will be completed in 2013. Audi is building a body-manufacturing shop, a paint shop and a press shop in Gyor. The group is expanding capacities in China, as well.
Automobiles with the four rings are expected to begin rolling off the assembly line in Foshan, China in early 2014. Moreover, a plant in San Jose Chiapa, Mexico is scheduled to start producing Audis by 2016.
“The expansion of our global manufacturing infrastructure will help us to continue growing,” says CFO Strotbek. Audi wants to sell more than two million vehicles annually by 2020 to become the perennial Number One premium brand in the world. To this end, Audi hopes that its innovations will attract customers everywhere to the brand. Last but not least, the company seeks to appropriately balance financial success with social and environmental concerns to further consolidate its unsurpassed image worldwide.

What's happening around Saudi Arabia

JEDDAH: Five people have been killed after an accident in Madinah province. The collision, between a car and an oil tanker, happened on Wednesday afternoon. The victims were pronounced dead at the scene. Upon arrival,the Civil Defense extinguished th...
RIYADH: The Saudi-led Operation Decisive Storm and Operation Restoration of Hope have helped “defend the Islamic faith from the expansion of the Safavids,” said Grand Mufti Abdul Aziz Al-Asheikh on Tuesday.Speaking at a welcoming ceremony for scholar...
RIYADH: The Shoura Council has called on the Board of Investigation and Public Prosecution (BIPP) to effectively implement the agreements with countries on deporting prisoners, as this will result in saving SR1 billion per year.“The monthly expenses...
JEDDAH: The Communication and Information Technology Commission (CITC) on Tuesday said it is not against communication services and applications in the Kingdom, but telecom companies will have to respect the Kingdom’s rules and regulations.The teleco...
RIYADH: The Ministry of Education (MoE) has allocated over 180 clinics for schools in Riyadh and directed all its departments across the Kingdom to recruit health advisers at schools with more than 100 students.Work has already started on introducing...
RIYADH: The Moroccan experience in desert tourism is largely similar to that of Saudi Arabia, which boasts of a unique diversity in culture in its different regions, Prince Sultan bin Salman, president of the Saudi Commission for Tourism and National...
JAZAN: Deputy Crown Prince Mohammed bin Salman visited the advanced field hospital of the Armed Forces in Jazan on Tuesday.He was reassured about the injured in the ongoing battle. He conveyed the greetings of Custodian of the Two Holy Mosques King S...
WASHINGTON: US Secretary of State John Kerry expressed gratitude to Custodian of the Two Holy Mosques King Salman for the efforts the Kingdom has exerted in assisting coalition forces against Daesh.He also lauded the Saudi announcement that the count...
JEDDAH: The planned “North Thunder” military exercise is a clear message to Iran and the countries in the region it supports that any hostile intentions and actions will be firmly dealt with, an expert has said.The military drill is scheduled to be h...
RIYADH: Syrian conjoined twins will be separated at the King Abdullah Specialist Children’s Hospital at the King Abdul Aziz Medical City (KAMC) in Riyadh on Sunday.According to a KAMC spokesman, the forthcoming surgery will be the fourth and final st...
JEDDAH: Education Minister Ahmed Al-Issa has issued an order to establish a department for school security. It will be be linked organizationally to the general supervisor of school safety and security at the ministry.According to the decision, schoo...
JEDDAH: From delivering mails for Saudi Aramco to captaining Saudi Arabian Airlines’ first flight to New York, Jazza Al-Shammari’s career story is unique.“I started my career as a postman with Saudi Aramco in 1959 and continued the primary studies at...
RIYADH: A team of the King Faisal Specialist Hospital & Research Center (KFSHRC) has identified a gene responsible for cardiomyopathy.Dr. Zuhair bin Nasser Al-Hasnan, KFSHRC medical genetics consultant, said the team conducted a study on a Saudi...
JEDDAH: The Pakistan Welfare Society (PWS) organized a free medical camp and discussion on health for women at the Pakistani Consulate recently.Doctors and specialists diagnosed patients and distributed free medicines to needy patients, and arranged...
JEDDAH: Yemen Vice President and Prime Minister Khaled Bahah has thanked Saudi Arabia for standing by his country during tough times.Speaking at the World Government Summit in Dubai on Tuesday, he said: “Our GCC brothers, particularly Saudi Arabia, s...

Stay Connected

Facebook