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Huge investment announced by Audi

German automaker Audi AG [1] 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 [2] 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