Audi bosses have announced growth plans for the brand in 2016, including the launch of a Q5 replacement as well as a new Q2 model.

The carmaker intends to invest more than 3 billion EURO over the coming financial year with half the expenditure earmarked for the German sites in Ingolstadt and Neckarsulm.

“We are continuing with our high levels of investment in future technologies to enhance the strong position of our brand,” said Audi CEO Rupert Stadler. 

The introduction of the Q2 will see Audi enter a new market segment. The ‘Q’ naming convention is reserved for SUVs but the use of the even number ‘2’ could suggest something slightly different to a straightforward compact crossover. 

In addition, Audi will present the successor to the Q5 SUV in 2016, followed in 2018 by the launch of the its first large‑series battery‑electric vehicle, based on the Audi e-tron Quattro concept. 

“A significant proportion of our investment is naturally in the field of alternative drive systems,” stated Stadler. 

Audi is continuing to push forward in the field of ‘digitalisation’, following its acquisition in December of a one‑third interest in HERE, a leading provider of digital maps and location-based services, at a cost of 0.85 billion EURO. 

In order to maintain its reputation for “Vorsprung durch Technik”, Audi plans strengthen its workforce in 2016 with specialists in alternative drive systems and lightweight construction, as well as IT specialists.

By 2020, Audi plans to expand its model range to include 60 different vehicles.