Audi Plans Total Investments of EUR37 Billion by 2024

Date : 11/29/2019 @ 9:50AM
Source : Dow Jones News
Stock : Volkswagen AG (VOW)
Quote : 168.15  -2.3 (-1.35%) @ 4:35PM
Volkswagen share price Chart

Audi Plans Total Investments of EUR37 Billion by 2024

Volkswagen (XE:VOW)
Historical Stock Chart

3 Months : From Nov 2019 to Feb 2020

Click Here for more Volkswagen Charts.
   By Max Bernhard 
 

Luxury-car maker Audi AG (NSU.XE) said Friday that it plans to invest a total of about 37 billion euros ($40.75 billion) by 2024, EUR12 billion of which is earmarked for electric mobility.

The Volkswagen AG (VOW.XE) unit said it expects to free up some EUR6 billion for investments through its restructuring plan by 2029. Audi said earlier this week it plans to cut some 9,500 jobs as part of the plan.

"The course has been set for Audi to return to an operating return on sales within the strategic target corridor of 9% to 11% in the medium term," Chief Financial Officer Alexander Seitz said.

 

Write to Max Bernhard at max.bernhard@dowjones.com; @mxbernhard

 

(END) Dow Jones Newswires

November 29, 2019 04:35 ET (09:35 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:us D:20200224 00:05:09