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Audi

Company

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Audi is an automaker that is part of the Volkswagen group

Owners:
Volkswagen Group - 100%
Financial results
2010 year
Revenue: 35.441 billions
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Assets

Owners

+ Audi

History

2022

Recalls 1300 cars in Russia due to defective software

In early April 2022, it became known about the recall in Russia of about 1260 Audi cars, in which faulty software and the resulting problems with electronics were found. More details here.

Buys shares in the manufacturer of sports cars McLaren for 650 million euros

In early April 2022, it became known about the sale of a stake in the British McLaren company Audi for 650 million euros, which is 200 million euros more than the price originally offered by the German automaker. More details here.

2020: Volkswagen increases Audi's stake to 100%

In mid-June 2020, it became known that Volkswagen would pay $267 million to buy Audi's premium division from minority shareholders. Volkswagen already owns a 99.64% stake in Audi and will now increase its stake to 100%.

The company's plans to buy the latest Audi securities became known in February.

Volkswagen will pay $267 million to buy Audi's premium division from minority shareholders
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Volkswagen AG has established a calculation of cash payments to minority shareholders: they will receive 1551.53 euros for each share of AUDI AG, a representative of the automaker said.
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According to Refinitiv experts, by mid-June 2020, 152,749 Audi shares are in circulation. Accordingly, Volkswagen will have to spend about 237 million euros. The transfer of securities is due to take place at Audi's next annual shareholder meeting, which the automaker said is expected in July or August, after the decline of the coronavirus pandemic.

Given that Volkswagen owned a decisive voice and almost the entire company before the deal, these changes will mean little directly to Audi. However, in the future, all sales revenues will go exclusively to the Volkswagen Group concern, including the third percent that previously belonged to minority shareholders. In this case, it should be borne in mind that Audi is still the most profitable brand of the automaker.

One way or another, Volkswagen and Audi have big plans for the future: for many years they have been jointly developing new electric vehicles and autonomous driving technologies. The automaker suggests that the new concept cars Audi e-tron GT and Q4 e-tron will attract general attention, barely enter the market. In this case, even the small share of profit that Volkswagen calculates if the deal is successfully completed will result in a very significant amount of[1]

2018

Investing 14 billion euros in electric vehicles, unmanned vehicles and digital services

In early December 2018, Audi announced the investment of 14 billion euros in unmanned vehicles, electric vehicles and digital services. This budget of the German automaker is calculated until 2023.

In total, Audi has planned five-year capital expenditures of 40 billion euros. This includes investments  in basic production facilities,  as well as   research and development costs, the company said.

Audi invests 14 billion euros in electric vehicles, unmanned cars and digital services
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In this planning plan, there is a clear characteristic feature: we apply a very systematic approach to electric vehicles and will be much more oriented in the future, "says Audi interim chairman of the board Bram Schot. - We consistently prioritize our resources for future-oriented products and services that are very attractive and relevant to the market.
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From the press release, which Audi released on December 4, 2018, it follows that in subsequent years the company is going to release many new electric cars. In particular,  by 2025, Audi will offer customers about 20 models of electrified cars, half of which will be fully electric.

Audi is also working in the direction of digitalization of its vehicles and enterprises, as well as expanding the range of digital services. In addition, the company is restructuring, which, according to its estimates, in 2018 will receive 1 billion euros in additional revenues.[2]

Volkswagen, which includes Audi, intends to produce 10 million electric cars by the end of 2022 based on its new MEB modular platform. It is planned to establish the production of 27 models or variants of electric vehicles, including under the Audi brand, based on MEB, starting with the Volkswagen ID electric car, the production of which starts at the plant in Zwickau (Germany) at the end of 2018.

Ericsson will equip Audi with 5G communications for the development of smart car production

In August 2018, Audi and Ericsson signed a contract under which the Swedish company will equip the company of the partner with 5G communications in order to develop smart car production. More details here.

In the top ten most expensive German brands

In January 2018, the company entered the top ten most expensive German brands, according to the rating, which was made up of the advertising and communication holding  WPP  and the marketing agency Kantar Millward Brown. More details here.

2015: Audi, BMW and Daimler bought Nokia cards

On August 3, 2015, Nokia announced the sale of the cartographic business to German auto giants BMW, Daimler and Audi (part of the Volkswagen concern). The purchase cost is estimated at 2.8 billion euros. More details here.