The chief executive of Volkswagen's luxury car unit Audi , Rupert Stadler, said on Thursday the German carmaker will invest less than $2 billion (1.25 billion pounds) in a new plant in Mexico, without providing a figure.

Mexico's Economy Minister Bruno Ferrari said the investment announced on Wednesday would be worth some $2 billion (1.25 billion pounds), but added the timeframe for the sum and the number of jobs it would create were unclear.

(Reporting by Andreas Cremer and Jan Schwartz; Writing by Maria Sheahan)