Audi is all set to go on a spending spree as the company has been allocated $4.5 billion to revamp the existing models and launch new ones.

As part of the campaign, they will soon start producing the Q2 SUV. The compact SUV which is also known as the baby SUV is expected to help the company boost its market share by multiple quotients. Apart from working on this brand new vehicle, the brand representatives have also confirmed that they are going to make the Q5 into a brand new vehicle.

The existing Q5 doesn’t have much of buyer support because of new and innovative vehicles hitting the stores almost every weekend. Audi is facing competition like never before not just from well-known brands like BMW, Mercedes Benz or Honda but also from newbies who are relatively new to the market.

Any company that fails to reinvent itself and adapt to the changing times will fail miserably. The people at Audi are well aware of this fact, which is why they have also confirmed that the brand will soon launch battery powered cars. Besides, you will soon witness hybrids and plug-in vehicles from Audi in the year 2018. It is going to be a two year wait, but if they could drop in some amazing cars that are priced right and are rich in features, there’s no doubt that most buyers would opt for them because of the name the company has earned through the years.

It is not only battery powered vehicles that are coming your way. Audi has set a staggering amount of 60 models to be launched by 2020 to expand their presence in the market. The Q2 SUV will be one among them. It is expected to be 4.2 meters in length, but there is no official pricing yet. We can say that it won’t exceed the $40,000 mark as the brand aims to compete with the likes of MINI countryman and pricing it right is a crucial factor to ensure success.

The upcoming baby SUV will also borrow the engine from the existing Audi A1 series cars. It will be offered in two different variants, including a front wheel drive and an all-wheel drive model. With plug-in models, buyers will have the option to go for a car that has increased mileage and less emission issues. Q2 is coming but it’s just the tip of the iceberg if Audi is going to follow their plans accordingly.