Audi announced yesterday that by 2025 it will reduce its workforce in Germany by up to 9,500, which is some 10.6% of total staff.

That should translate into $6 billion ($6.6 billion) of savings by 2029, which will allow investing in new areas like electrification and digitalization, adding up to 2,000 new jobs in those areas.

"The 6 billion euros thus generated will secure the strategic targeted return corridor of 9 to 11 percent and will flow into future projects such as electrification and digitalization. In this way, Audi.Zukunft will sustainably strengthen the competitiveness of the Four Rings and will make the company fit for the coming years.

In Europe, Audi already produces the e-tron in Belgium, which soon will be joined by the e-tron Sportback.

In late 2020, the production of Audi e-tron GT concept will start in Neckarsulm, Germany (where the production capacity of all models is scheduled for 225,000 annually).

The Ingolstadt plant in Germany (total capacity of 450,000 annually) is also poised to produce EVs:

"The Ingolstadt site is currently preparing for the production of premium electric vehicles. In Neckarsulm, the all-electric Audi e-tron GT will already drive off the assembly line as of 2020. The other production lines will also be gradually equipped for electric mobility."

Source: Audi, Reuters