This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Audi Plans $10.5B Investments Through 2012

MATT MOORE

FRANKFURT (AP) ¿ Audi AG said Monday it plans to spend euro7.3 billion ($10.51 billion) on plant upgrades, new products and technology research as it moves to expand its business worldwide and increase market share.

Audi, based in Ingolstadt, and a unit of Volkswagen AG, said it plans to spend the amount from 2009 to 2012 and will increase the number of models from its current 34 to a planned 42 by 2015.

Of that, around euro5.9 billion will go toward new products and future technologies, or about 80 percent of its planned spending.

"With our planned investments in new products and mobility concepts, for example electric propulsion, we are creating a basis for our company's future growth," said Axel Strotbek, who oversees finance and organization at the company.

Investors agreed, pushing Audi shares up nearly 4.2 percent to euro500 in Frankfurt trading.

To that end, the company also wants to expand its model line, adding the A1, A7, A8 and R8 Spyder to its production portfolio in 2010, along with the Q5 Hybrid, slated to reach the market in the beginning of 2011.

"We will be in a position to finance all our planned investments from our operative cash flow," Strotbek said.

The car maker plans to spend heavily at its German plants, parsing out euro3.8 billion to its Ingolstadt and Neckarsulm plants from this year through 2012.

Some euro2.5 billion will be invested at Ingolstadt, including a new transmission and emission center, along with production of the A1. Another euro1.3 billion will be spent at Neckarsulm for production of the A6, A7 and A8 models.

___

On the Net:

http://www.audi.com

Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,805.41 +127.51 0.76%
S&P 500 1,964.58 +13.76 0.71%
NASDAQ 4,483.7150 +30.9230 0.69%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs