Audi updated its investment schedule late last week announcing an acceleration of its electric vehicle production plans. The German automaker added $12 billion towards its electric vehicle initiative, and plans to have 30 electrified models on the market by 2025. The company is expected to have three electric models on the road in the near future.

3 The Announcement

Alexander Seitz, Board of Management Member for Finance, China and Legal Affairs at Audi AG, announced the additional electric vehicle fund as part of the updated expenditure: “With our Consistently Audi strategy, we are accelerating our roadmap towards electrification. Our investment planning takes this into account. At around €12 billion, we will spend more than ever before on electric mobility by 2024.”

2 How Will It Affect The Workforce?

Earlier in the week, Audi announced that it plans to cut 9,500 jobs from its German factories until 2025. Meanwhile, 2,000 jobs will be added for the production of new electric vehicles. Audi’s Ingolstadt factory is currently prepping for “the production of premium electric vehicles” and its Neckarsulm factory will build the all-electric Audi e-tron GT as early as next year.

1 The Cars Coming Now And What To Look Forward To

Audi is already producing its e-tron electric SUV in Brussels, and plans to start production of the new e-tron Sportback in the near future. As mentioned above, the German automaker’s Neckarsulm factory will produce the all-electric Audi e-tron GT as soon as next year. After that, the German automaker is expected to enter the premium electric compact SUV market with the Q4 e-tron SUV. According to Seitz, the plan is to have “more than 30 electrified models in its product range” and “20 of which will be fully electric” by 2025.

Source: Electrek.com