Volkswagen Group says it will invest a total of EUR85.6bn (US$106.3bn) in new models, technologies and its global presence in its Automotive Division during the next five years.
Around two-thirds of the total investment amount will flow into efficient vehicles, drives and more environmentally-friendly production.
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This is the result of the Group’s investment planning for 2015 to 2019 discussed by the Supervisory Board of Volkswagen at its meeting today (21 November).
“We will continue to invest in the future to become the leading automotive group in both ecological and economic terms – with the best and most sustainable products”, said Volkswagen chairman, Martin Winterkorn.
“Development costs will remain high in the future as a result of high innovation pressure and increasing demands on the automotive industry from CO2 legislation.
“As a Group, we have the expertise and financial strength to continue to extend our technology leadership and to reach our goals for 2018.”
