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MarketScreener Homepage  >  Equities  >  Xetra  >  AUDI AG    NSU   DE0006757008

AUDI AG

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Audi : increases budget for electromobility up to 2025

12/02/2020 | 10:31am EST

Audi increases budget for electromobility up to 2025

  • Focus on future technologies with upfront expenditure of almost € 17 billion

  • Almost half of total investments for electromobility, hybridization and digitalization

  • Consistent use of synergies in the Volkswagen Group, including for hard- and software

  • Audi Transformation Plan and Audi.Zukunft remain key pillars for the company's success

  • Chairman of Supervisory Board Herbert Diess: "With this investment planning we are making Audi stronger for the upcoming transformation of the core business"

Ingolstadt, December 2, 2020 - With its investment planning for the next five years, AUDI AG is pushing ahead its transformation to a provider of networked and sustainable premium mobility: with a total amount of approximately 35 billion, investments remain at a high level, especially for future vehicle projects, in spite of a difficult business environment. Some 17 billion, amounting to half of the investment sum, is allocated to future technologies alone. Like the Volkswagen Group as a whole, Audi is reinforcing investments in electromobility. The premium manufacturer has earmarked approximately € 15 billion for this and the future topic of hybridization, thus underlining the key importance of its electro-roadmap. The necessary financial scope is created by synergies in the Volkswagen Group - in both the e-platform strategy and in software development. Improvements in fixed costs, a leaner product portfolio, and savings in non-vehicle investments further contribute to the financial solidity of the Audi brand.

"With the investment planning that has now been carried out, we are making Audi stronger for the upcoming transformation of the core business. Technological leadership in electric-powered and fully networked driving is the aim of the supervisory board and management board. We are providing Audi with the necessary resources for this," says Herbert Diess, Chairman of the Supervisory Board of AUDI AG.

"The investments approved today for enhancing Audi's forward-looking themes of electrification, hybrid technology and digitalization are extremely important for us in this transformation. They secure the technological leadership of the Group. This benefits us in many projects, and also in creating high-quality jobs. The Audi sites at Neckarsulm and Ingolstadt will derive long-term advantages from this. That is a decisive factor for us as employee representatives," emphasized Peter Mosch, Vice Chairman of the Supervisory Board of AUDI AG and Chairman of the General Works Council of AUDI AG.

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Electrification and hybridization

From 2021 to 2025 AUDI AG plans spending on research and development and on investments in fixed assets of about € 35 billion. Almost € 17 billion is allocated by the premium

manufacturer to vehicle projects and innovative vehicle technologies alone, in order to newly energize the brand promise of "Vorsprung durch Technik".

The total sum of development costs takes account of comprehensive synergies in the Group. For example, the development and implementation of the electric platforms takes place across the brands. Here Audi is developing together with Porsche the premium platform electric (PPE); at the same time, Audi uses the Group technology of the modular electrification platform (MEB).

On the basis of the investment planning, upfront expenditure in the years 2021 to 2025 focuses on the uncompromising implementation of Roadmap E, with a large-scale product offensive for fully and partly electric models. For electrification alone, a sum of approximately € 15 billion - more than 40 percent of the total expenditure - is foreseen in the context of the planning round. Specifically, some € 10 billion is to be devoted to electromobility and € 5 billion to hybridization.

By 2025 AUDI AG will expand its e-portfolio to about 30 models, of which approximately 20 will be powered entirely by electric batteries.

Digitalization and Car.Software organization

In digitalization, too, Audi benefits from cooperation in the Group, and will now exploit this competitive advantage even more efficiently. In software development, Audi CEO Markus Duesmann is now taking over as chairman at the Car.Software-Organization, which combines and extends the knowhow of the brands.

In this way the Group's own software unit is creating a unified operating system with basic

functions for all vehicles of the Group. The tasks of the Car.Software-Organization also include further development of functions for automated driving.

"Our investment planning tells a clear story: we are not cutting back on the substance of products, and are giving full priority to expenditure on electromobility and software development," says Markus Duesmann, CEO of AUDI AG. "The thorough-going focus on group synergies for these central future themes is an important key to success."

Audi Transformation Plan and Audi.Zukunft

Thanks to an optimization of the product portfolio in order to become more efficient and lean, reduced complexity in internal processes, and improvements in fixed costs, the Audi brand is in a solid financial position. There will be substantial efficiency gains from the Audi Transformation Plan (ATP) and the Audi.Zukunft basic agreement. The ATP alone has released more than 6.5 billion since the program started three years ago. Despite a challenging environment caused by the coronavirus pandemic this year, AUDI AG continues to focus clearly on the aim of achieving a cumulative sum of some € 15 billion by 2022 through this program. In addition, the Audi.Zukunft agreement lays down foundations of a strong market position for AUDI AG, secure jobs, and profitable company sites. Through the planned expenditures, the sites in Germany, too, will remain thoroughly competitive and well positioned for the future.

Arno Antlitz, Member of the Board of Management of AUDI AG for Finance and Legal Affairs, says "With the Audi Transformation Plan and Audi.Zukunft we are making our company fit for the future. Both of these programs secure our financial basis for continuing investment in future technologies and thus for a decisive contribution to shaping the transformation of the automotive industry."

Corporate Communication

Lena Bösch

Spokesperson Finance and Legal Affairs Telephone: +49 841 89-44038

E-mail:lena.boesch@audi.dewww.audi-mediacenter.com

The Audi Group, with its brands Audi, Ducati and Lamborghini, is one of the most successful manufacturers of automobiles and motorcycles in the premium segment. It is present in more than 100 markets worldwide and produces at 17 locations in 11 countries. 100 percent subsidiaries of AUDI AG include Audi Sport GmbH (Neckarsulm, Germany), Automobili Lamborghini S.p.A. (Sant'Agata Bolognese, Italy), and Ducati Motor Holding S.p.A. (Bologna, Italy).

In 2019, the Audi Group delivered to customers about 1.845 million automobiles of the Audi brand, 8,205 sports cars of the Lamborghini brand and 53,183 motorcycles of the Ducati brand. In the 2019 fiscal year,

AUDI AG achieved total revenue of € 55.7 billion and an operating profit of € 4.5 billion. At present, about 87,000 people work for the company all over the world, 60,000 of them in Germany. With new models, innovative mobility offerings and other attractive services, Audi is becoming a provider of sustainable, individual premium mobility.

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Audi AG published this content on 02 December 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 December 2020 15:30:06 UTC


© Publicnow 2020
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Financials
Sales 2019 55 680 M 67 596 M 67 596 M
Net income 2019 3 850 M 4 674 M 4 674 M
Net cash 2019 17 334 M 21 043 M 21 043 M
P/E ratio 2019 8,94x
Yield 2019 -
Capitalization 70 090 M 83 470 M 85 089 M
EV / Sales 2018 0,29x
EV / Sales 2019 0,31x
Nbr of Employees 89 084
Free-Float 0,36%
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Income Statement Evolution
Managers and Directors
NameTitle
Markus Duesmann Chairman-Management Board
Herbert Diess Chairman-Supervisory Board
Arno Antlitz Chief Financial Officer
Dirk Große-Loheide Head-Procurement & Information Technology
Hans-Michel Piëch Member-Supervisory Board
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