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Audi will increase spending on new models, plants and technology in coming years as the carmaker steps up efforts to catch larger competitor BMW, people familiar with the matter said.

The Volkswagen-owned division plans to spend more than 20 billion euros ($27.46 billion) on global operations through 2018, said the people on condition they not be identified because Audi's spending plan won't be published until Dec. 27.

That equates to over 4 billion euros a year, compared with 2.6 billion in the carmaker's budget of December 2011.

 


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Audi To Spend $27.46 Billion In Bid To Catch BMW

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