Audi is launching a five-year, €22 billion ($30.4 billion) investment initiative of which 70 percent will be dedicated to new models and new technologies, between 2014 and 2018.

The company explained the expenditures will flow into new models, innovations and the continuous expansion of the worldwide production network. 70 percent of the investments is intended for new models and technologies.

Audi added the German production sites will also benefit from the largest technical development and investment program in company history – more than half of the planned investment will go to the Ingolstadt and Neckarsulm sites.

“With this investment program we are launching our next stage of growth,” said Axel Strotbek, Member of the Board of Management of AUDI AG for Finance and Organization. “In the future, we will be investing increasingly in new products: 70 percent is intended for the modernization and expansion of the model range and for our portfolio of technologies.”

To achieve its goal of two million deliveries per year, the manufacturer of premium cars said it wants to expand its product range from the current 49 models to 60 different models by 2020. In addition to developing new models and alternative drive concepts, the current investment program also provides for the next generation of fuel-efficient engines. Audi said this will enable the company to meet stricter emissions legislation worldwide.

As for what is coming soon, in addition to the Audi A3 Sportback e-tron and A3 Sportback g-tron, the brand with the four rings plans to launch the third generation of Audi TT Coupé on the market in 2014.

The Audi Group will build its first Audi factory in North America, in the Mexican city of San José Chiapa, where the Audi Q5 is scheduled to roll off the production line starting in 2016. So far, 26,000 people have applied for jobs in Mexico, where more than 1,000 new Audi employees will be hired in 2014 alone.

Furthermore, Audi has plans to begin producing again in Brazil, starting in 2015. In São José dos Pinhais, the Ingolstadt-based car manufacturer will produce the new A3 Sedan and the Audi Q3.

At the Hungarian site in Győr, the largest engine manufacturing facility in the world, the company is continuing to invest heavily following successful completion of a full vehicle production plant.

In Foshan, China, the company’s second plant in the Middle Kingdom is about to begin production. Audi has already delivered more than 460,000 cars to customers in China this year.