Audi CEO Gernot Dollner unveiled plans on Tuesday for the German automaker to roll out more than 20 new models by the end of 2025, expanding its reach across various markets. Moreover, Audi aims to electrify all core segments by 2027, earmarking a significant capital expenditure of EUR 41 billion for the period spanning 2024 to 2028.
Of this investment, EUR 11.5 billion will be allocated to the development of internal combustion engine (ICE), plug-in hybrid electric vehicle (PHEV), and other segments, with the remaining EUR 29.5 billion dedicated to battery electric vehicles (BEV) and digitization efforts.
"The Audi Q6 e-tron signifies the start of an extensive product initiative aimed at rejuvenating our portfolio in the years ahead," Dollner affirmed.
He elaborated, revealing plans for over 20 new models in 2024 and 2025, including the introduction of the A6 e-tron in the summer of 2024 and the debut of the new generation A5 and Q5, the first models on the new Premium Platform Combustion (PPC) set for the latter half of the year. Audi strategically positions itself for future economic and technological advancements, committing to a gradual introduction of new products.
Dollner emphasized Audi's commitment to electrification despite recent discourse, affirming their aim to electrify all core segments by 2027 and outlining a fully electric target portfolio.
In acknowledgment of the transitional phase, Dollner stressed the initial focus on highly efficient combustion-engine models and plug-in hybrids.
Audi witnessed a significant surge in electric vehicle deliveries in 2023, with 178,000 units delivered, marking a 51 percent increase from 2022.
The Audi group's revenue experienced a robust 13.1 percent year-on-year increase to EUR 69.9 billion in 2023, accompanied by an operating profit of EUR 6.3 billion. Net cash flow remained stable at EUR 4.7 billion.
In fiscal year 2023, Audi delivered 1,918,912 units of cars and bikes to customers, with the Audi brand alone achieving a 17.4 percent increase over the previous year, delivering 1,895,240 cars due to heightened demand and improved supply.
Looking ahead, Audi AG CFO Jurgen Rittersberger acknowledged the persisting challenges in the macroeconomic landscape, anticipating highly competitive markets.
To adapt to evolving demand dynamics, Audi is preparing for the future by manufacturing both electric and combustion-engine models.
Assuming moderate economic growth and a stable supply chain, the Audi group expects revenue ranging from EUR 63 billion to EUR 68 billion in the 2024 fiscal year, with an operating margin projected between 8 percent and 10 percent. Net cash flow is estimated between EUR 2.5 billion and EUR 3.5 billion.
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