Audi Targets €15 Billion Cost Cuts

Volkswagen AG’s Audi unit aims to reduce its costs by some €15 billion ($17 billion) by 2022, executives tell Germany’s Manager Magazin.

The report says future job vacancies won’t be filled, resulting in a 3% decline over five years. The company also is looking for production efficiencies and product simplification.

Audi tells Reuters that the exact savings target hasn’t been finalized but the order of magnitude is correct. Like other units of VW, Audi aims to control costs to help bankroll its shift to electrified powertrains.