Photo of 2016 Q7 courtesy of Audi.

Photo of 2016 Q7 courtesy of Audi.

Audi's Q7 flagship luxury SUV will lose 700 pounds for the 2015 model year in a redesign that should make the full-size, seven-passenger SUV the lightest in its segment, according to Audi.

The Q7 will be powered by a gasoline or diesel engine as well as a plug-in electric-diesel hybrid in with Audi's e-tron engine and all-wheel drive in late 2015. The Q7 will also be offered in a five-seat model.

The diesel Q7 will be the first plug-in hybrid with a diesel engine offered in the U.S., according to Audi. The model will produce 373 hp and reach a 34.8-mile range while operating in electric mode. The car can cover a total distance of 876 miles, according to the company.

The Q7's 3.0-liter TDI diesel engine makes 272 hp, while the 3.0-liter turbocharged gasoline engine produces 333 hp.

Audi also plans to introduce three new "top models" by 2017 as a result of a $30 billion investment in the next five years.