FRANKFURT (Reuters) - Audi (>> Audi AG) has agreed to rule out forced redundancies in Germany by five years until the end of 2025 and to build two fully-electric SUV models at its main plant in Ingolstadt, it said in a joint statement with its German works council.

The Volkswagen-owned (>> Volkswagen) business last year awarded production of its first mass-produced electric sport-utility vehicle to a plant in Brussels, and has since been under pressure from labor unions to allocate electric car projects to Germany.

"Production of the two new fully electric SUVs is another milestone for our secure future," works council chief Peter Mosch said in the statement on Tuesday.

(Reporting by Maria Sheahan)

Stocks treated in this article : Audi AG, Volkswagen