Huge investment announced by Audi

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German automaker Audi AG announced today its plan to invest over CAN$15 billion on plant upgrades, new products and research in a bid to grow its worldwide market share.

The Volkswagen unit also said it would increase its fleet from 34 to 42 models by 2015.

News reports indicate the move is part of the automaker’s bid to become a larger competitor in world markets. Massive investment is expected at its German manufacturing plants in Ingolstadt and Neckarsulm.

- with files from The Associated Press