Volkswagen’s Audi division, the world’s second-biggest maker of luxury cars, plans to spend $30.3 billion through 2018, pushing models such as electric autos to gain the top spot in the premium segment.
About $21.2 billion, or 70 percent of the total, will be invested to develop new models and technology, the Ingolstadt, Germany-based carmaker said Friday in a statement. Audi targets selling 2 million cars and sport-utility vehicles annually after achieving a goal of delivering 1.5 million autos in 2013, two years ahead of its original plan.
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