Within the next five years, the work force of Audi AG throughout the world will be expanded. Audi would also be hastening the pace of its annual spending on new products and technologies to 2.6 billion euros (or around $3.40 billion). Audi had initially intended to use up around $3.03 billion each year on new investments.
However, Audi saw the need to raise its scale globally and so it made the decision to spend more for its global operations.
In addition, Audi said that it will hire 1,200 “specialists” in 2012 to boost its expertise in lightweight materials and electric technology. This is aside from the 3,500 jobs created in 2011. By now, you may already have heard about the main goal of Volkswagen AG (Audi’s parent company) to overtake Toyota Motor Corp. and General Motors Co. as the No. 1 automaker in terms of sales.
Audi seeks to reach annual sales of over 1.5 million cars worldwide by 2015. Last year, it had recorded sales of 1.1 million units. Audi aims that by 2015, its global lineup will be increased to 42 models. It currently sells 32 models. Earlier this month, CEO Rupert Stadler said that Audi is on track to reach and even exceed its 1.5 million car target.
Audi hopes to reach this target before 2015. Stadler told Reuters that 2012 would be a tougher year for the auto industry compared to 2011. He asserted that this doesn’t mean that the industry has to be pessimistic as the global growth over the next decade is expected to continue with the demand in the developing economies.