Audi boosts investments through 2018

Newswire

FRANKFURT, Dec 27 (Reuters) - Germany's Audi said it would invest about 22 billion euros ($30.1 billion) in new models, plants and technology in the five years through 2018. That equates to 4.4 billion euros a year, compared with 2.6 billion in the carmaker's budget of December 2011. People familiar with the matter told Reuters earlier this month that Audi planned to increase spending as the luxury carmaker steps up efforts to catch larger competitor BMW . ...

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