FRANKFURT--Germany's Audi AG Friday said it plans to invest around 22 billion euros ($30 billion) over the next five years to enable further growth and to continue its battle for technical supremacy in the luxury car market.

The Volkswagen AG (VOW.XE) subsidiary's planned investments in new models, innovations and a continuous expansion of the worldwide production network, will see EUR16 billion spent on fixed assets and EUR6 billion on capitalized development. In 2012, Audi's capitalized development costs were EUR923 million.