Audi to build $4.2B auto plant in Georgia, pledging long-term investment in U.S. market
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President Trump said Saturday that Volkswagen's (VWAGY) (VLKAF) Audi subsidiary plans to build a $4.2B assembly plant in Georgia that will produce 200K SUVs annually.
Volkswagen (VWAGY) (VLKAF) will build the new plant in Macon, Georgia, to manufacture the Audi Q7, Q8 and Q9 models, with construction to begin soon.
Trump made the announcement at a campaign rally in Georgia alongside Audi CEO Gernot Döllner, who spoke at the rally and said the company is making a long-term investment to the U.S. market.
The company is also expected to expand its Scout Motors plant under construction in South Carolina, adding 25K units/year of capacity for a model yet to be determined.
Audi sales have fallen for two consecutive years and slumped 7% in this year's H1, as competition from Chinese cars and U.S. tariffs have hurt demand; its U.S. sales are down 16% YTD.
Unlike rivals such as BMW and Mercedes-Benz, Audi relies exclusively on imports from Europe and Mexico in the U.S., subjecting it to steep tariffs.
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