Audi AG, the luxury carmaker owned by Volkswagen, said Monday it plans to invest US$15.7 billion through 2011 and expand its line of models to 40 from the current 22.
``Investments in new models and product innovation is the life force of any enterprise,'' said the company's incoming chief executive, Rupert Stadler. ``Only with attractive products can we ensure our success as a business.''
Last week, Audi said its November global sales were up more than eight per cent from a year earlier.
It predicted that it would sell some 900,000 cars by the end of the year, driven by demand for its A3, TT and A6 models, among others. Audi sold 829,100 cars last year.
Stadler is taking over as CEO from Martin Winterkorn, who last month was named CEO of Wolfsburg-based Volkswagen AG.