Source : PTI | German automaker Audi plans to roll out over 20 new models by the end of 2025 across markets, Audi AG CEO Gernot Dollner said on Tuesday. The company also plans to electrify all core segments by 2027.
The automaker has also lined up a capex of EUR 41 billion for the period between 2024-2028.
Audi AG will invest EUR 11.5 billion in the development of ICE (internal combustion engine), PHEV (plug-in hybrid electric vehicle) and other segments and EUR 29.5 billion for BEV (battery electric vehicles) and digitisation.
“The Audi Q6 e-tron is the start of an extensive product initiative that we will use to rejuvenate our portfolio over the coming years,” Dollner stated.
He further said: “We are planning more than 20 new models in 2024 and 2025, including the presentation of the A6 e-tron in the summer of 2024 and the new generation of the A5 and Q5 as the first models on the new Premium Platform Combustion (PPC) in the second half of the year.”
The group is positioning itself for the future economically, technologically and strategically, and planning to put new products on the street one by one, he stated.
Dollner said that despite the recent public debate, there is no doubt about the future of electric cars.
“At Audi, we will electrify all core segments by 2027 and have defined a fully electric target portfolio,” he stated.
In addition, the transitional period will require starting off with highly efficient combustion-engine models and plug-in hybrids, Dollner stated.
“The 50% increase in electric vehicles delivered in 2023 confirms our path toward electric mobility,” he added.
Audi delivered 1.78 lakh electric vehicle units last year, a growth of 51% as compared with 2022.
“We are currently launching the largest model initiative in the history of Audi, while at the same time continuing the fundamental transformation of the company,” Dollner said.
The Audi group saw its revenue grow by 13.1% year-on-year to EUR 69.9 billion in 2023.
The brand’s operating profit stood at EUR 6.3 billion.
Net cash flow last year was nearly on a par with 2022 at EUR 4.7 billion.
In fiscal year 2023, the Audi group delivered 19,18,912 units of cars and bikes to customers.
With deliveries of 18,95,240 cars, the Audi brand achieved an increase of 17.4% over the previous year due to high demand and the improved supply situation, the automaker stated.
On the outlook for the current year, Audi AG CFO Jurgen Rittersberger said that overall conditions remain very challenging.
“The macroeconomic situation remains difficult. Audi expects the markets to stay highly competitive. At the same time, it is important to offer a flexible portfolio of drive systems,” he added.
In order to respond to changes in demand, the company is preparing for the future by producing both electric cars and combustion-engine models, Rittersberger stated.
Assuming slight economic growth and a stable supply chain for parts, the Audi group expects to generate revenue between EUR 63 billion and EUR 68 billion in the 2024 fiscal year, he noted.
The operating margin is expected to be between 8% and 10%. In terms of net cash flow, the Audi group is expecting between EUR 2.5 billion and EUR 3.5 billion, Rittersberger said.
