Pursuits
Audi Said to Keep Investments Stable Amid VW Push to Lower Costs
- Division said to plan 3.3 billion euros in spending in 2016
- Brand plans battery-powered car, 60-vehicle lineup by 2020
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Audi AG plans to keep capital spending stable in 2016 even as parent Volkswagen AG reins in investment across its 12 automotive brands in the wake of the diesel-emissions cheating scandal, according to people familiar with the matter.
The luxury-car division, the biggest contributor to Volkswagen’s earnings, has earmarked some 3.3 billion euros ($3.62 billion) in spending for next year, in line with the 2015 total, said the people, who asked not to be identified as the figures are confidential. Audi said Monday that investments in 2016 will exceed 3 billion euros as the company introduces a compact sport utility vehicle and develops an electric car.