Audi will invest almost $16 billion in e-mobility, self-driving cars

The Audi logo is seen during the first press day of the Paris auto show in Paris France

The Audi logo is seen during the first press day of the Paris auto show in Paris France

The e-tron is set to be followed by the e-tron GT Sportback in late 2020, and it's already been previewed by a striking new concept vehicle revealed at the Los Angeles Auto Show last week.

The electric auto has an array of futuristic features, one of which is cameras which replace door mirrors. "They not only provide a new technology experience, but also many practical benefits in terms of comfort and safety", said Audi. The e-tron Sportback will follow late next year.

This drive system provides optimal traction and handling in all driving situations, making it suited for a range of driving needs. The GT concept's production version is due to go on sale in 2020 as a rival to the Tesla Model S.

In addition Audi will use Volkswagen dedicated MEB architecture of course, in order to be able to offer the planned 20 electrified models by 2025.

Much of the work is being shared with other VW subsidiaries, with electric engines for the top end models, for example, being developed jointly with Porsche.

To help fund the investments, the company launched a cost-cutting program called the Audi Transformation Plan with the aim of reducing complexity, utilizing synergies, and identifying and discontinuing activities that are no longer relevant to customers.

Audi also plans restructuring measures that will generate €1 billion in earnings uplift already in 2018.

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