Pursuits
Audi to Invest $29 Billion Through 2019 to Surpass BMW
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Audi will spend 24 billion euros ($29 billion) to develop technology and expand production, boosting its five-year investment plan by 2 billion euros as it chases BMW for the top spot in luxury-car sales.
About 16.8 billion euros, or 70 percent of the total, is earmarked for new models like the Q1 subcompact sport-utility vehicle, the Ingolstadt, Germany-based unit of Volkswagen AG said today in a statement. Audi expects to sell a record of more than 1.7 million autos this year.