Audi's Big Investment and Big Plans
German automaker Audi just snagged Sangyup Lee, the designer of General Motors Co.'s Camaro and is investing more than $10.5 billion in upgrades.
German automaker Audi is acting like a company in the middle of an economic boom, instead of one dealing with the pain of a severe recession as so many other companies are.
It just snagged Sangyup Lee, the designer of General Motors Co.'s Camaro, to be its chief exterior designer at the Volkswagen/Audi Advanced Studio in California.
Today, Audi announced it is investing more than $10.5 billion the next three years upgrading its factories and developing hybrid and electric vehicles. Audi plans to boost its portfolio of vehicles from 34 it offers today to 42 by 2015. In addition to the Q5 Hybrid hitting showrooms in early 2011, Audi is launching the A1, A7, A8 and the R8 Spyder, all new vehicles, in 2010.
Volkswagen, combined with Audi, says it will sell more than 1 million units in the U.S. market by 2018.
Both brands have gained in marketshare this year.
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