By UPI Staff
The Audi e-tron S line black edition. Photo courtesy of Audi
Dec. 16 (UPI) -- German car manufacturer Audi on Thursday announced a plan to invest $20 billion into developing electric cars over the next five years.
The company goals include delivering 3 million cars per year, developing 20 fully electric models by 2025, and phasing out internal combustion engine cars by 2033.
From 2033 and on, the company plans to be fully electric.
Audi will also open charging hubs and offer charging options at home. It currently has 26,000 charging hubs in 26 European countries.
Ionity -- a high-power charging network -- will also increase its capacity from 1,500 to 7,000 by 2025, according to the car company.
With 60,000 employees in Germany, the VW subsidiary decided to cut 9,500 jobs at its plants in Ingolstadt and Neckarsulm in 2019.
Audi joins Nissan, Subaru, Hyundai, Dodge, and Volvo in the race to develop all-electric cars and contribute to meeting COP26 goals.
Earlier this year, U.S. President Joe Biden set a goal for half of all new vehicles to be electric by 2030.
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