Audi says it plans to spend 7.3 billion euros (US$10.51 billion) on plant upgrades, new products and technology research as it moves to expand its customer base worldwide and increase market share.

Audi, a unit of Volkswagen, said on Monday it plans to spend the amount from 2009 to 2012 and will increase its product range from the current offering of 34 models to a planned 42 by 2015.

New models due to make their debut in 2010 include the A1 sub-compact, A7 sportback, A8 luxury sedan and R8 Spyder. Audi will release its Q5 Hybrid compact crossover SUV in 2011.

Around 5.9 billion euros have been earmarked for product development and future technologies - about 80 percent of its planned spending.

"With our planned investments in new products and mobility concepts, for example electric propulsion, we are creating a basis for our company's future growth," said Audi finance director Axel Strotbeck.

sje/dpa/APD
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