Trump says Audi to invest $4.2 bn in its first US auto plant

US President Donald Trump announced on Saturday that German automaker Audi planned to invest $4.2 billion to build its first factory in the United States that will produce 200,000 vehicles a year. Audi confirmed the investment in a release, saying the plant would create about 4,500 jobs. “I’m thrilled to announce a massive auto manufacturing investment in the great state of Georgia by a fantastic company,” Trump said at a campaign rally 10 days ahead of the November 3 midterm elections that will determine control of the US Congress. “Audi has just committed to invest $4.2 billion dollars in nearby Macon, Georgia, to begin the construction next month on a massive plant that will produce 200,000 cars a year,” Trump continued. Audi, which is a unit of Volkswagen, said in its release that construction was scheduled to begin next year and production in the early 2030s. “The planned investment intends to mark a long-term commitment to the United States and to establish North America as a third major pillar of Audi’s global production network alongside Europe and China,” it said. VW, long a titan of German industry, has struggled with US tariffs, Chinese competition and patchy demand in Europe. About 50,000 job cuts have already been agreed across the 10-brand Volkswagen Group — mostly at VW, Audi and Porsche — but the company has said another 50,000 could be required worldwide to slash costs. AFP The post Trump says Audi to invest $4.2 bn in its first US auto plant appeared first on Technology Khabar.