Audi AG announced plans Monday to spend euro7.3 billion ($10.51 billion) on plant upgrades, new products and technology research, according to Associated Press.
Audi, a unit of Volkswagen AG, said it plans to spend that amount from 2009 to 2012 and will increase the number of models from its current 34 to a planned 42 by 2015.
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Approximately euro5.9 billion, or about 80 percent of the investment, will go toward new products and future technologies.
The company also wants to expand its model line, adding the A1, A7, A8 and R8 Spyder to its production portfolio in 2010, along with the Q5 Hybrid, slated to reach the market in the beginning of 2011.
The carmaker plans to spend heavily at its German plants, allocating euro3.8 billion to its Ingolstadt and Neckarsulm plants from this year through 2012.
The company will invest euro2.5 billion to Ingolstadt, including spending on a new transmission and emission center, along with production of the A1. Another euro1.3 billion will be spent at Neckarsulm for production of the A6, A7 and A8 models.
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