Audi’s Chief Executive Rupert Stadler told German daily Frankfurter Allgemeine Zeitung (FAZ) that the launch of an electric sports car and a sports activity vehicle (SAV) were under way.
While it remains to be confirmed, it seems apparent that the electric sports car will come in the form of a production-ready Audi R8 e-tron.
As for the sports activity vehicle, it will feature an all-wheel drive system and be able to cover over 500 km (310 miles) on a single charge.
Audi, which contributes 40 percent of operating profit at VW Group will push up investment in car-making operations by 2 billion euros ($2.44 billion) to a record 24 billion euros over the next five years.
Seventy percent of spending will be assigned to developing new models and technologies such as emission-cutting plug-in hybrid vehicles, Audi said.