President Donald Trump announced Saturday that German automaker Audi plans to invest $4.2 billion to build its first US factory, which will produce 200,000 vehicles annually.
The German company confirmed the investment in a statement, noting that the plant will create approximately 4,500 jobs.
"I am pleased to announce a massive investment in auto manufacturing in the great state of Georgia by a great company," Trump said at a campaign rally 10 days before the November 3 midterm elections, which will determine which party controls Congress.
"Audi has just committed to investing $4.2 billion in Georgia, to begin construction next month on a massive plant that will produce 200,000 vehicles a year," he added.
For its part, the Volkswagen Group subsidiary stated in a press release that construction is scheduled to begin next year, with production slated to start in the early 2030s.
It explained that "the planned investment aims to reaffirm a long-term commitment to the United States and solidify North America as the third major hub within Audi's global production network, alongside Europe and China."
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