Audi isn’t content with being number two in the worldwide luxury auto market and will invest $30.3 billion by 2018 to expand its product portfolio.
The plan is roughly equal to an investment of 4.4 billion Euros per year, marking an increase from the brand’s previously planned 4.3 billion over the same period.
“We are now decisively steering toward our next milestone,” CEO Rupert Stadler said. “This is why we’re keeping our foot on the gas pedal regarding investments.”
Audi, a subsidiary of Volkwagen, is only one part of its parent company’s plan to surpass General Motors and Toyota in global sales. For Audi, the plan will include greater investment in electric cars as well as expanded product volumes globally. By 2020, the company expects to market 60 models compared to the 49 it does today.
The company will crest 1.5 million sales this year, which puts it roughly two years ahead of previously states targets.
But Mercedes-Benz and BMW both have expansion plans of their own. BMW is aiming to launch 25 new models spread over itself, Rolls-Royce and MINI by the end of 2014. Mercedes is supposed to add 13 to its portfolio by 2020.