Audi is willing to invest $29 billion over the next five years to help increase production, research and develop new connected car technologies, all the while trying to chase down BMW as the premiere German auto maker. Audi is No. 2 in global sales, and wants to expand its vehicle lineup from 50 up to 60 by 2020, the company publicly noted.
"We are making huge investments in the pioneering regions of electric mobility, connectivity and lightweight development," said Rupert Stadler, Audi CEO, in a press statement.
As connected technology, electric engines and autonomous vehicle research continues, Tesla, BMW, Audi, Mercedes-Benz and other luxury car manufacturers are expected to lead the way.