Audi planning $3.9 billion investment in next 5 years

Audi AG will continue to invest heavily in China to produce new models in its biggest market globally, said Wolfgang Duerheimer, the company's new board member for technical development.

In a recent interview, Duerheimer said the luxury carmaker plans to spend 3 billion euros ($3.9 billion) to develop, produce and sell new products in China over the next five years.

The new investment will help the brand boost its China production to 700,000 cars a year "quickly", Duerheimer said without providing a timetable.

Audi's China sales soared by 31.6 percent year-on-year to 330,582 units in the first 10 months of this year, surpassing its delivery in the country for all of last year.

Audi now runs a joint venture in China with its parent Volkswagen Group and local partner FAW Corp. The tie-up builds the Audi A6L, A4L and Q5 SUV as well as a slew of Volkswagen models in northeastern city of Changchun. It is also building a new plant for both Audi and Volkswagen cars in Foshan in the south.

Duerheimer said Audi and the joint venture will strengthen collaboration on new technology and product development including petrol-electric hybrids, plug-in hybrids and fully electric vehicles.

Audi will also bring high-performance diesel-powered models to China, he said.

Dominique Boesch, general manager of the joint venture's Audi sales division, said at the ongoing Guangzhou motor show that China's share of the brand's global sales will continue to grow from the current level of 27 percent through the new product offensive.

Audi will continue to strengthen all-round localization to cement its two-decade leadership in China's luxury car market, Boesch said, adding that the brand's future products for China will embody the strategy.

Audi is exhibiting 19 models at the Guangzhou motor show, with the highlight on its China-made Q3 compact SUV. The model will hit the market next year.

gongzhengzheng@chinadaily.com.cn